acetraderfx
AceTrader.com Representative
- Messages
- 1,109
AceTraderFx Jan 12: Daily Recommendatioons on Major – USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 12 Jan 2021 09:30GMT
USD/JPY - 104.14
The greenback's resumption of upmove from last Wednesday's 9-1/2 month bottom at 102.60 to a near 5-week peak at 104.39 yesterday on usd's broad-based strength suggests price would head to 104.55/60, then 104.75 after consolidation, however, 104.90/00 should limit upside due to loss of momentum and yield a much-needed correction later this week.
On the downside, only below 103.61 would indicate a temporary top has been made and risk weakness to 103.40/44.
Data to be released on Tuesday :
Japan current account, trade balance, Economy Watchers current, Economy Watchers outlook.
UK BRC retail sales, Italy retail sales.
U.S. redbook, JOLTS job openings.
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: 12 Jan 2021 09:30GMT
USD/JPY - 104.14
The greenback's resumption of upmove from last Wednesday's 9-1/2 month bottom at 102.60 to a near 5-week peak at 104.39 yesterday on usd's broad-based strength suggests price would head to 104.55/60, then 104.75 after consolidation, however, 104.90/00 should limit upside due to loss of momentum and yield a much-needed correction later this week.
On the downside, only below 103.61 would indicate a temporary top has been made and risk weakness to 103.40/44.
Data to be released on Tuesday :
Japan current account, trade balance, Economy Watchers current, Economy Watchers outlook.
UK BRC retail sales, Italy retail sales.
U.S. redbook, JOLTS job openings.
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