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AceTraderFx Aug 27: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 27 Aug 2021 09:30GMT
USD/JPY - 110.13
The greenback's rally from Tuesday's low at 109.42 to 110.12 yesterday and yesterday's break above there in tandem with rising U.S. yields and cross-selling in jpy suggests further choppy trading above last Tuesday's low at 109.12 would continue with upside bias and above reaction high at 110.22 would bring stronger retracement of near term decline from 110.79 (Aug) towards 110.54.
On the downside, only below 109.88 would indicate aforesaid recovery has ended instead and risk weakness to 109.63/66, then 109.42.
Data to be released on Friday:
Japan Tokyo CPI, Australia retail sales.
France consumer confidence, Italy business confidence, consumer confidence.
U.S. personal income, personal spending, Core PCE price index, PC price index, goods trade balance, wholesale inventories, University of Michigan sentiment, Canada producer prices and budget balance.
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: 27 Aug 2021 09:30GMT
USD/JPY - 110.13
The greenback's rally from Tuesday's low at 109.42 to 110.12 yesterday and yesterday's break above there in tandem with rising U.S. yields and cross-selling in jpy suggests further choppy trading above last Tuesday's low at 109.12 would continue with upside bias and above reaction high at 110.22 would bring stronger retracement of near term decline from 110.79 (Aug) towards 110.54.
On the downside, only below 109.88 would indicate aforesaid recovery has ended instead and risk weakness to 109.63/66, then 109.42.
Data to be released on Friday:
Japan Tokyo CPI, Australia retail sales.
France consumer confidence, Italy business confidence, consumer confidence.
U.S. personal income, personal spending, Core PCE price index, PC price index, goods trade balance, wholesale inventories, University of Michigan sentiment, Canada producer prices and budget balance.
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