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AceTraderFx Nov 9: Daily Recommendations on Major USD/JPY
DAILY MARKET OUTLOOK
Update Time: 09 Nov 2016 09:07 GMT
USD/JPY - 103.51
Despite the greenback's selloff to as low as 101.19 in Asia after initial polls showed Trump leading, subsequent strong rebound on short-covering after Trump's victory suggests recent erratic decline from October's peak at 105.53 has made a temporary low there and choppy trading with upside bias would be seen, however, resistance at 104.63 should remain intact and yield another retreat later today.
On the downside, only below 102.55 (previous resistance) would indicate aforesaid recovery is over and turn outlook bearish for weakness towards 102.16/20.
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
Update Time: 09 Nov 2016 09:07 GMT
USD/JPY - 103.51
Despite the greenback's selloff to as low as 101.19 in Asia after initial polls showed Trump leading, subsequent strong rebound on short-covering after Trump's victory suggests recent erratic decline from October's peak at 105.53 has made a temporary low there and choppy trading with upside bias would be seen, however, resistance at 104.63 should remain intact and yield another retreat later today.
On the downside, only below 102.55 (previous resistance) would indicate aforesaid recovery is over and turn outlook bearish for weakness towards 102.16/20.
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