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AceTraderFx Dec 11: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 11 Dec 2017 10:00 GMT
USD/JPY - 113.44
Although price has eased after intra-day rise to a 3-week peak at 113.69 and minor consolidation would be seen, as said move signals decline from November's 4-1/2 month top at 114.74 has made a temporary low at 110.84 in November, upside bias remains and above 113.69 would extend to 113.91.
However, near term loss of momentum would keep price below 114.34 and yield retreat.
On the downside, only below 112.86 (previous resistance, now support) would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness towards 112.37/40.
Data to be released today:
Japan business survey index, Italy retail sales, and U.S. JOLTS job openings on Monday.
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: 11 Dec 2017 10:00 GMT
USD/JPY - 113.44
Although price has eased after intra-day rise to a 3-week peak at 113.69 and minor consolidation would be seen, as said move signals decline from November's 4-1/2 month top at 114.74 has made a temporary low at 110.84 in November, upside bias remains and above 113.69 would extend to 113.91.
However, near term loss of momentum would keep price below 114.34 and yield retreat.
On the downside, only below 112.86 (previous resistance, now support) would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness towards 112.37/40.
Data to be released today:
Japan business survey index, Italy retail sales, and U.S. JOLTS job openings on Monday.
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