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AceTraderFx Jun 21: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 21 Jun 2021 09:30GMT
USD/JPY - 109.96
Despite dollar's fall from last Thursday's 10-week peak at 110.82 to 109.72 in Asia today, subsequent rebound in tandem with U.S. yields suggests the pullback has possibly ended and consolidation with upside bias remains for gain to 110.48, above would confirm this view and yield re-test of said resistance, however, loss of momentum may keep price below 2021 peak at 110.96 and yield retreat.
On the downside, only below 109.72 would revive bearishness for stronger retracement of recent upmove to 109.60 but 109.20 should hold.
Data to be released today:
U.K. Rightmove house price and Australia retail sales on Monday.
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 update
Update Time: 21 Jun 2021 09:30GMT
USD/JPY - 109.96
Despite dollar's fall from last Thursday's 10-week peak at 110.82 to 109.72 in Asia today, subsequent rebound in tandem with U.S. yields suggests the pullback has possibly ended and consolidation with upside bias remains for gain to 110.48, above would confirm this view and yield re-test of said resistance, however, loss of momentum may keep price below 2021 peak at 110.96 and yield retreat.
On the downside, only below 109.72 would revive bearishness for stronger retracement of recent upmove to 109.60 but 109.20 should hold.
Data to be released today:
U.K. Rightmove house price and Australia retail sales on Monday.
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 update