AceTraderFx Apr 19: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 19 Apr 2016 09:37GMT USD/JPY - 109.13
Despite yesterday's initial selloff to 107.84 due to yen-buying on risk aversion following sharp fall in oil prices, subsequent rally to 108.99 in New York following strong rebound in oil prices together with gain in global stocks, then today's follow-through gain to 109.22 in Asia suggests further volatile trading above last Monday's fresh 17-month bottom at 107.63 would continue with near term upside bias, above 109.74 is needed to bring stronger retracement of medium-term downtrend to 109.90/00 later.
On the downside, below 108.46/50 would be 1st signal said Monday's rise from 107.84 has ended and yield weakness to 108.12/15.
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Update Time: 19 Apr 2016 09:37GMT USD/JPY - 109.13
Despite yesterday's initial selloff to 107.84 due to yen-buying on risk aversion following sharp fall in oil prices, subsequent rally to 108.99 in New York following strong rebound in oil prices together with gain in global stocks, then today's follow-through gain to 109.22 in Asia suggests further volatile trading above last Monday's fresh 17-month bottom at 107.63 would continue with near term upside bias, above 109.74 is needed to bring stronger retracement of medium-term downtrend to 109.90/00 later.
On the downside, below 108.46/50 would be 1st signal said Monday's rise from 107.84 has ended and yield weakness to 108.12/15.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time