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AceTraderFx Oct 30: Daily Recommendations on Major – USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 30 Oct 2020 09:30GMT
USD/JPY - 104.33
Although dollar's strong rebound from yesterday's 5-week low at 104.03 to 104.72 on usd's broad-based strength suggests choppy trading above September's 6-month 104.01 trough would continue, intra-day retreat to 104.13 in Asia indicates recovery has possibly ended but below 104.01/03 needed to extend medium term downtrend to 103.66 before correction.
On the upside, only above 104.72 would head to this week's high at 105.05 (Monday), break, 105.30/40 later.
On the calendar front, there is a slew of data from U.S. today, please refer to our EI page for more details. Focus will be on personal income and person spending, with street forecasts at 0.4% and 1.0% respectively versus prior readings of -2.7% and 1.0%.
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Update Time: 30 Oct 2020 09:30GMT
USD/JPY - 104.33
Although dollar's strong rebound from yesterday's 5-week low at 104.03 to 104.72 on usd's broad-based strength suggests choppy trading above September's 6-month 104.01 trough would continue, intra-day retreat to 104.13 in Asia indicates recovery has possibly ended but below 104.01/03 needed to extend medium term downtrend to 103.66 before correction.
On the upside, only above 104.72 would head to this week's high at 105.05 (Monday), break, 105.30/40 later.
On the calendar front, there is a slew of data from U.S. today, please refer to our EI page for more details. Focus will be on personal income and person spending, with street forecasts at 0.4% and 1.0% respectively versus prior readings of -2.7% and 1.0%.
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