acetraderfx
AceTrader.com Representative
- Messages
- 1,109
DAILY MARKET OUTLOOK USD/JPY - 111.30
Update Time: 31 Oct 2014 08:19 GMT
Dollar's intra-day rally above October's peak at 110.09 to a fresh near 7-year high of 111.53 in European morning after BoJ's surprise easing confirms long-term uptrend has resumed and further gain to projected obj. at 111.98 is likely after consolidation, however, o/bot condition should prevent sharp move beyond there today and risk has increased for a much-needed retreat later.
On the downside, only a daily close below 110.09 (previous resistance) would signal a top has been made and yield correction towards 109.47.
Update Time: 31 Oct 2014 08:19 GMT
Dollar's intra-day rally above October's peak at 110.09 to a fresh near 7-year high of 111.53 in European morning after BoJ's surprise easing confirms long-term uptrend has resumed and further gain to projected obj. at 111.98 is likely after consolidation, however, o/bot condition should prevent sharp move beyond there today and risk has increased for a much-needed retreat later.
On the downside, only a daily close below 110.09 (previous resistance) would signal a top has been made and yield correction towards 109.47.
Last edited by a moderator: