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AceTraderFx Jan 26: Daily Recommendatioons on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 26 Jan 2021 09:30GMT
USD/JPY - 103.77
Despite the greenback's break below previous support at 103.53 to 103.33 last Thursday due to a drop in U.S. Treasury yields, subsequent stronger-than-expected rebound on risk-averse buying in usd to 103.93 yesterday suggests decline from last Monday's 4-week peak at 104.39 has made a temporary low there and consolidation with upside bias remains for retracement to 104.08/10.
On the downside, only below 103.33 would revive bearishness for weakness to 102.95/00 but December's 9-1/2 month bottom at 102.60 should hold on 1st testing.
Data to be released on Tuesday :
Australia market holiday.
UK claimant count, ILO unemployment rate, employment change, average weekly earnings, CBI distributive trades.
U.S. redbook, monthly home price, Case-Shiller home price index, Richmond Fed manufacturing index.
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: 26 Jan 2021 09:30GMT
USD/JPY - 103.77
Despite the greenback's break below previous support at 103.53 to 103.33 last Thursday due to a drop in U.S. Treasury yields, subsequent stronger-than-expected rebound on risk-averse buying in usd to 103.93 yesterday suggests decline from last Monday's 4-week peak at 104.39 has made a temporary low there and consolidation with upside bias remains for retracement to 104.08/10.
On the downside, only below 103.33 would revive bearishness for weakness to 102.95/00 but December's 9-1/2 month bottom at 102.60 should hold on 1st testing.
Data to be released on Tuesday :
Australia market holiday.
UK claimant count, ILO unemployment rate, employment change, average weekly earnings, CBI distributive trades.
U.S. redbook, monthly home price, Case-Shiller home price index, Richmond Fed manufacturing index.
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