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AceTraderFx July 30: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 30 July 2021 09:30GMT
USD/JPY - 109.53
The greenback's selloff following the Federal Reserve's dovish hold on Wednesday and yesterday's release of soft U.S. GDP data to 109.37 in Australia today suggests correction from July's bottom at 109.07 has ended at 110.59 last Friday and consolidation with downside bias remains for a re-test of said support, break would extend MT decline to 108.70/80 before prospect of a rebound.
On the upside, only abv 110.28 would indicate a temporary low has been made and risk stronger gain to 110.59 again.
Data to be released on Friday:
Japan unemployment rate, industrial output, retail sales, construction orders, housing starts, consumer confidence, Australia PPI, France PPI.
Germany GDP, import prices, Swiss retail sales, KOF indicators, France CPI, Italy unemployment rate, GDP, CPI, EU HICP, GDP, unemployment rate.
U.S. personal income, personal spending, PCE price index, employment wages, employment costs, Chicago PMI, University of Michigan sentiment, Canada GDP, producer prices and budget balance.
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Update Time: 30 July 2021 09:30GMT
USD/JPY - 109.53
The greenback's selloff following the Federal Reserve's dovish hold on Wednesday and yesterday's release of soft U.S. GDP data to 109.37 in Australia today suggests correction from July's bottom at 109.07 has ended at 110.59 last Friday and consolidation with downside bias remains for a re-test of said support, break would extend MT decline to 108.70/80 before prospect of a rebound.
On the upside, only abv 110.28 would indicate a temporary low has been made and risk stronger gain to 110.59 again.
Data to be released on Friday:
Japan unemployment rate, industrial output, retail sales, construction orders, housing starts, consumer confidence, Australia PPI, France PPI.
Germany GDP, import prices, Swiss retail sales, KOF indicators, France CPI, Italy unemployment rate, GDP, CPI, EU HICP, GDP, unemployment rate.
U.S. personal income, personal spending, PCE price index, employment wages, employment costs, Chicago PMI, University of Michigan sentiment, Canada GDP, 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