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AceTraderFx Apr 08: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 08 Apr 2020 09:30GMT
USD/JPY - 108.81
Dollar's rally from last Wed's near 2-week bottom at 106.93 to 109.37 on Monday suggests decline from March's 1-month peak at 111.71 has made a temporary low and as price has rebounded after weakening to 108.51 in Asia today, consolidation with upside bias remains for gain to 109.70/71 before prospect of retreat.
On the downside, only below 108.44/51 would risk stronger retracement to 108.18/21.
ON the data front, although the only data due out from the U.S. is MBA mortgage applications, pay attention to release of FOMC minutes which may shed some more light on last month's emergency meeting and rate cut in the aftermath of COVID-19 pandemic which hit U.S. economy and sent millions out of work abruptly.
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AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates
Update Time: 08 Apr 2020 09:30GMT
USD/JPY - 108.81
Dollar's rally from last Wed's near 2-week bottom at 106.93 to 109.37 on Monday suggests decline from March's 1-month peak at 111.71 has made a temporary low and as price has rebounded after weakening to 108.51 in Asia today, consolidation with upside bias remains for gain to 109.70/71 before prospect of retreat.
On the downside, only below 108.44/51 would risk stronger retracement to 108.18/21.
ON the data front, although the only data due out from the U.S. is MBA mortgage applications, pay attention to release of FOMC minutes which may shed some more light on last month's emergency meeting and rate cut in the aftermath of COVID-19 pandemic which hit U.S. economy and sent millions out of work abruptly.
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