Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

USD/JPY - 144.67

Despite dollar's brief gain to a fresh 24-year peak of 145.89 after BoJ's dovish hold last Thursday, subsequent selloff to 140.36 on BoJ's 'unilateral' yen buying intervention suggests a temporary top is made, yesterday's gain to 144.90 in New York signals correction is over but above 145.00 is needed to yield re-test of 145.89, break, 146.70/80.

On the downside, below 144.07 would revive bearishness fo weakness towards 143.26/28

Data to be released on Wednesday

U.K. BRC shop price index, Australia retail sales, Japan coincident index, leading index, Germany Gfk consumer confidence, France consumer confidence, Italy business confidence, consumer confidence, industrial sales.
U.S. MBA mortgage application, goods trade balance, wholesale inventories and pending home sales.

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AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

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