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AceTraderFx Dec 11: Daily Recommendations on Major – USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 11 Dec 2020 09:30GMT
USD/JPY - 104.05
Despite dollar's resumption of upmove from last Thursday's 103.68 to 104.57 in Europe yesterday, subsequent retreat and intra-day fall to 103.93 in Asia suggests further choppy trading inside recent 103.66-104.75 range would continue, however, reckon said lower level should hold and yield another bounce.
On the upside, only above 104.57 would bring re-test of 104.75, where break would head to 105.13/15.
Data to be released later :
Germany CPI, HICP, Italy industrial output, Canada capacity utilization.
U.S. PPI, core PPI, University of Michigan sentiment.
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
Update Time: 11 Dec 2020 09:30GMT
USD/JPY - 104.05
Despite dollar's resumption of upmove from last Thursday's 103.68 to 104.57 in Europe yesterday, subsequent retreat and intra-day fall to 103.93 in Asia suggests further choppy trading inside recent 103.66-104.75 range would continue, however, reckon said lower level should hold and yield another bounce.
On the upside, only above 104.57 would bring re-test of 104.75, where break would head to 105.13/15.
Data to be released later :
Germany CPI, HICP, Italy industrial output, Canada capacity utilization.
U.S. PPI, core PPI, University of Michigan sentiment.
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