acetraderfx
AceTrader.com Representative
- Messages
- 1,109
AceTraderFx May 14: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 14 May 2020 09:30GMT
USD/JPY - 106.86
Dollar's fall from Monday's 107.76 high to 106.75 in New York yesterday suggests 1st leg of correction from May's 105.99 bottom has ended and as price has fallen after recovering to 107.14, stronger retracement to 106.55/60 cannot be ruled out before prospect of rebound.
On the upside, above 107.35/36 would indicate pullback has ended and head to 107.63, then 107.76.
Although J. Powell's scheduled speech Wed was market's main focus this week, traders are eagerly awaiting release of weekly U.S. jobless claims n also continuing claims to gauge the latest damage done to U.S. jobs market due to coronovirus outbreak which is expected to add another 2.5 Americans out of jobs, making a y-t-d market forecast of around 25 million people filing for unemployment benefits.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
Update Time: 14 May 2020 09:30GMT
USD/JPY - 106.86
Dollar's fall from Monday's 107.76 high to 106.75 in New York yesterday suggests 1st leg of correction from May's 105.99 bottom has ended and as price has fallen after recovering to 107.14, stronger retracement to 106.55/60 cannot be ruled out before prospect of rebound.
On the upside, above 107.35/36 would indicate pullback has ended and head to 107.63, then 107.76.
Although J. Powell's scheduled speech Wed was market's main focus this week, traders are eagerly awaiting release of weekly U.S. jobless claims n also continuing claims to gauge the latest damage done to U.S. jobs market due to coronovirus outbreak which is expected to add another 2.5 Americans out of jobs, making a y-t-d market forecast of around 25 million people filing for unemployment benefits.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates