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AceTraderFx Nov 27: Daily Recommendations on Major – USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 27 Nov 2020 09:30GMT
USD/JPY - 104.03
The greenback's intra-day fall to 103.92 in Asia suggests upmove from last week's bottom at 103.66 has made a top at 104.75 Tuesday and consolidation with downside bias remains for weakness to 103.80/90 would be seen, below would retain bearishness for a re-test of aforesaid low, break would extend erratic decline from 105.67 (November) to 103.20/30 before prospect of correction.
On the upside, only above 104.30/40 would dampen daily bearishness and risk stronger retracement to 104.47/50, however, 104.75 should remain intact.
On the data front, no U.S. economic data is due out as many market participants have taken a long w/end off following Thur's Thanksgiving holiday but U.S. stock n FX markets are open later today.
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Update Time: 27 Nov 2020 09:30GMT
USD/JPY - 104.03
The greenback's intra-day fall to 103.92 in Asia suggests upmove from last week's bottom at 103.66 has made a top at 104.75 Tuesday and consolidation with downside bias remains for weakness to 103.80/90 would be seen, below would retain bearishness for a re-test of aforesaid low, break would extend erratic decline from 105.67 (November) to 103.20/30 before prospect of correction.
On the upside, only above 104.30/40 would dampen daily bearishness and risk stronger retracement to 104.47/50, however, 104.75 should remain intact.
On the data front, no U.S. economic data is due out as many market participants have taken a long w/end off following Thur's Thanksgiving holiday but U.S. stock n FX markets are open later today.
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