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AceTraderFx Apr 13: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 13 Apr 2022 09:30GMT
USD/JPY - 126.03
Dollar's resumption of recent uptrend to a near 7-year peak at 125.77 in New York Mon on broad-based usd's strength due to rally in U.S. yields, then intra-day firm break of 2015 high of 125.86 on active selling in yen in European morning suggests further gain towards 126.40/45 is envisaged before a much-needed correction occurs due to over-bought condition.
On the downside, only a daily close below 125.75/77 would indicate a temporary top is made and risk stronger retracement to 125.10/15 but 124.78 should hold.
Data to be released on Wednesday:
U.K. PPI output prices, PPI input prices, RPI, CPI, DCLG house price, Italy industrial output.
U.S. MBA mortgage application, PPI and Canada interest decision.
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 Apr 2022 09:30GMT
USD/JPY - 126.03
Dollar's resumption of recent uptrend to a near 7-year peak at 125.77 in New York Mon on broad-based usd's strength due to rally in U.S. yields, then intra-day firm break of 2015 high of 125.86 on active selling in yen in European morning suggests further gain towards 126.40/45 is envisaged before a much-needed correction occurs due to over-bought condition.
On the downside, only a daily close below 125.75/77 would indicate a temporary top is made and risk stronger retracement to 125.10/15 but 124.78 should hold.
Data to be released on Wednesday:
U.K. PPI output prices, PPI input prices, RPI, CPI, DCLG house price, Italy industrial output.
U.S. MBA mortgage application, PPI and Canada interest decision.
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