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AceTraderFx Jul 09: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 09 Jul 2019 09:30 GMT
USD/JPY - 108.85
Dollar's rally to 108.63 last Friday on robust U.S. NFP data, then to 108.80 yesterday and intra-day break of this resistance suggests upmove from June's 5-1/2 month trough at 106.79 has once again resumed and consolidation with upside bias is retained and above 108.63 would extend to 109.02/10, then 109.30 before prospect of a correction due to loss of momentum.
On the downside, only below 107.54 would indicate a temporary top has been made and risk stronger weakness to 107.25, then 107.06/10.
On the data front, U.S. will later release Redbook sales, JOLTRS jobs openings, however, all eyes are on Wednesday's 2-day testimony before the Congress by Fed chief J. Powell as well as release of previous FOMC minutes. A number of Fed officials will be speaking in New York session, please refer to our EI section for details.
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Update Time: 09 Jul 2019 09:30 GMT
USD/JPY - 108.85
Dollar's rally to 108.63 last Friday on robust U.S. NFP data, then to 108.80 yesterday and intra-day break of this resistance suggests upmove from June's 5-1/2 month trough at 106.79 has once again resumed and consolidation with upside bias is retained and above 108.63 would extend to 109.02/10, then 109.30 before prospect of a correction due to loss of momentum.
On the downside, only below 107.54 would indicate a temporary top has been made and risk stronger weakness to 107.25, then 107.06/10.
On the data front, U.S. will later release Redbook sales, JOLTRS jobs openings, however, all eyes are on Wednesday's 2-day testimony before the Congress by Fed chief J. Powell as well as release of previous FOMC minutes. A number of Fed officials will be speaking in New York session, please refer to our EI section for details.
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