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AceTraderFx Feb 09: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 09 Feb 2021 09:30GMT
USD/JPY - 104.77
The greenback's rise to a fresh 11-week peak at 105.76 at New York open on Friday due to usd's continued strength suggests upmove from January's 9-1/2 month bottom at 102.60 would head to resistance at 106.10 after consolidation, however, daily resistance at 106.55 would limit upside due to loss of momentum and yield a much-needed correction later this week.
On the downside, only a daily close below 104.62 would indicate a temporary top has been made and risk stronger retracement to 104.18/20.
Data to be released on Tuesday :
New Zealand inflation forecast.
UK BRC retail sales, Australia NAB business conditions, NAB business confidence, Germany exports, imports, trade balance, current account, Italy industrial output.
U.S. redbook, JOLTS job openings.
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 updates
Update Time: 09 Feb 2021 09:30GMT
USD/JPY - 104.77
The greenback's rise to a fresh 11-week peak at 105.76 at New York open on Friday due to usd's continued strength suggests upmove from January's 9-1/2 month bottom at 102.60 would head to resistance at 106.10 after consolidation, however, daily resistance at 106.55 would limit upside due to loss of momentum and yield a much-needed correction later this week.
On the downside, only a daily close below 104.62 would indicate a temporary top has been made and risk stronger retracement to 104.18/20.
Data to be released on Tuesday :
New Zealand inflation forecast.
UK BRC retail sales, Australia NAB business conditions, NAB business confidence, Germany exports, imports, trade balance, current account, Italy industrial output.
U.S. redbook, JOLTS job openings.
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 updates