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AceTraderFx Aug 13: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 13 Aug 2019 09:30 GMT
USD/JPY - 105.24
Although dollar's rebound from Mon's fresh 7-month bottom at 105.06 to 105.58 today suggests temporary low is possibly made and range trading would be seen before prospect of one more fall, loss of momentum should prevent steep fall below 2019 trough at 104.79 (Jan) and yield correction.
On the upside, above 105.58 would bring stronger retracement towards 105.69 but 105.85/90 should hold.
On the data front, U.S. will release a slew of eco. indicators starting with Jul core CPI, CPI, real weekly earnongs n Redbook sales.
AceTrader - Best Intra-day Forex Trading Strategies
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Update Time: 13 Aug 2019 09:30 GMT
USD/JPY - 105.24
Although dollar's rebound from Mon's fresh 7-month bottom at 105.06 to 105.58 today suggests temporary low is possibly made and range trading would be seen before prospect of one more fall, loss of momentum should prevent steep fall below 2019 trough at 104.79 (Jan) and yield correction.
On the upside, above 105.58 would bring stronger retracement towards 105.69 but 105.85/90 should hold.
On the data front, U.S. will release a slew of eco. indicators starting with Jul core CPI, CPI, real weekly earnongs n Redbook sales.
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