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AceTraderFx Jan 26: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 26 Jan 2017 09:01 GMT
USD/JPY - 113.78
Despite the greenback's resumption of erratic decline from December's 10-1/2 month peak at 118.66 to a fresh 7-week trough at 112.53 on Tuesday, subsequent strong rebound to 113.99 yesterday suggests a temporary low has been made there and consolidation with mild upside bias would be seen.
However, resistance at 114.54 should remain intact and yield another fall later this week.
On the downside, only below 112.90 would indicate aforesaid recovery has ended instead and turn outlook bearish for a re-test of aforesaid support.
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Update Time: 26 Jan 2017 09:01 GMT
USD/JPY - 113.78
Despite the greenback's resumption of erratic decline from December's 10-1/2 month peak at 118.66 to a fresh 7-week trough at 112.53 on Tuesday, subsequent strong rebound to 113.99 yesterday suggests a temporary low has been made there and consolidation with mild upside bias would be seen.
However, resistance at 114.54 should remain intact and yield another fall later this week.
On the downside, only below 112.90 would indicate aforesaid recovery has ended instead and turn outlook bearish for a re-test of aforesaid support.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates