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AceTraderFx Sept 10: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 10 Sept 2021 09:30GMT
USD/JPY - 109.88
Yesterday's cross-inspired decline to 110.63 in New York due to safe-haven yen buying suggests recent erratic rise from 109.12 has made a top at Wednesday's 3-1/2 week peak of 110.44 and consolidation with downside bias is seen for weakness to 109.42, however, reckon 109.12 should remain intact.
Only above 110.15 indicates pullback is over, then risk is seen for subsequent re-test of 110.44 later next week.
T.G.I.F. after a roller-coaster week (dlr rose on Mon from 109.63 to 110.44 yesterday and only to fall back to exactly where it started !), U.S. will later release a slew of eco. data, please refer to our EI page for details n pay attention to PPI n core PPI at 12:30GMT.
We also have Cleveland Fed President Mester speaking at 13:00GMT.
AceTrader - Best Intra-day Forex Trading Strategies
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Update Time: 10 Sept 2021 09:30GMT
USD/JPY - 109.88
Yesterday's cross-inspired decline to 110.63 in New York due to safe-haven yen buying suggests recent erratic rise from 109.12 has made a top at Wednesday's 3-1/2 week peak of 110.44 and consolidation with downside bias is seen for weakness to 109.42, however, reckon 109.12 should remain intact.
Only above 110.15 indicates pullback is over, then risk is seen for subsequent re-test of 110.44 later next week.
T.G.I.F. after a roller-coaster week (dlr rose on Mon from 109.63 to 110.44 yesterday and only to fall back to exactly where it started !), U.S. will later release a slew of eco. data, please refer to our EI page for details n pay attention to PPI n core PPI at 12:30GMT.
We also have Cleveland Fed President Mester speaking at 13:00GMT.
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 update