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AceTraderFx May 21: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 21 May 2019 09:30 GMT
USD/JPY - 110.12
Although dollar has retreated after Monday's rise to a 1-week high at 110.32 in Asia, as 109.81 (New York) has contained weakness, upside bias is retained for recent upmove from last Monday's 3-month trough at 109.02 to resume and extend to 110.50/60 before prospect of decline due to loss of momentum, below 109.50 would bring re-test of 109.02.
On the upside, only above 110.70 would risk stronger gain towards 111.05.
Market has shown muted reaction to early comments by Fed's J. Powell. U.S. will release Redbook sales, existing home sales in New York morning. Also we have Fed's Evans n Fed's Rosengren speaking later today.
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Update Time: 21 May 2019 09:30 GMT
USD/JPY - 110.12
Although dollar has retreated after Monday's rise to a 1-week high at 110.32 in Asia, as 109.81 (New York) has contained weakness, upside bias is retained for recent upmove from last Monday's 3-month trough at 109.02 to resume and extend to 110.50/60 before prospect of decline due to loss of momentum, below 109.50 would bring re-test of 109.02.
On the upside, only above 110.70 would risk stronger gain towards 111.05.
Market has shown muted reaction to early comments by Fed's J. Powell. U.S. will release Redbook sales, existing home sales in New York morning. Also we have Fed's Evans n Fed's Rosengren speaking later today.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates