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AceTraderFx Aug 13: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 13 Aug 2021 09:30GMT
USD/JPY - 110.27
Despite the greenback's selloff to a 2-month trough at 108.73 last Wednesday, subsequent rally to 110.35 last Friday on upbeat U.S. jobs report and intra-day break above there suggests a temporary low has been made and consolidation with upside bias remains for stronger retracement to 110.60/65 before prospect of retreat later.
On the downside, only below 109.41 would indicate aforesaid recovery has ended instead and risk weakness to 109.07, then bring re-test of said support, break would extend to 108.50/60.
Data to be released on Friday:
New Zealand manufacturing PMI, Japan tertiary industry activity.
France ILO unemployment rate, CPI, Germany wholesale price index, Swiss producer/import price, EU trade balance.
U.S. import prices, export prices and University of Michigan sentiment.
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: 13 Aug 2021 09:30GMT
USD/JPY - 110.27
Despite the greenback's selloff to a 2-month trough at 108.73 last Wednesday, subsequent rally to 110.35 last Friday on upbeat U.S. jobs report and intra-day break above there suggests a temporary low has been made and consolidation with upside bias remains for stronger retracement to 110.60/65 before prospect of retreat later.
On the downside, only below 109.41 would indicate aforesaid recovery has ended instead and risk weakness to 109.07, then bring re-test of said support, break would extend to 108.50/60.
Data to be released on Friday:
New Zealand manufacturing PMI, Japan tertiary industry activity.
France ILO unemployment rate, CPI, Germany wholesale price index, Swiss producer/import price, EU trade balance.
U.S. import prices, export prices and University of Michigan sentiment.
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