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AceTraderFx July 19: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 19 July 2021 09:30GMT
USD/JPY - 109.89
Despite dollar's rally from last July's 3-week trough at 109.54 to 110.69 last Wednesday, subsequent selloff to 109.94 Wednesday on Federal Reserve Chairman Jerome Powell's dovish testimony, then 109.72 Thursday suggests said correction has ended and consolidation with downside bias remains for a re-test of said support, break would extend recent decline to 109.30 before prospect of a rebound.
On the upside, only above 110421 would indicate a temporary low has been made and risk stronger retracement to 110.69.
Data to be released today:
U.K. Rightmove house price, EU construction output.
U.S. NAHB housing market index 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: 19 July 2021 09:30GMT
USD/JPY - 109.89
Despite dollar's rally from last July's 3-week trough at 109.54 to 110.69 last Wednesday, subsequent selloff to 109.94 Wednesday on Federal Reserve Chairman Jerome Powell's dovish testimony, then 109.72 Thursday suggests said correction has ended and consolidation with downside bias remains for a re-test of said support, break would extend recent decline to 109.30 before prospect of a rebound.
On the upside, only above 110421 would indicate a temporary low has been made and risk stronger retracement to 110.69.
Data to be released today:
U.K. Rightmove house price, EU construction output.
U.S. NAHB housing market index 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