AceTraderFx Nov 10: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time:10 Nov 2021 09:30GMT
USD/JPY - 113.09
Despite yesterday's resumption of recent erratic decline from Oct's 3-year peak at 114.69 to a 4-week trough of 112.73, subsequent bounce to 112.11 (New York), then intra-day brief break above there on rally in U.S. yields suggests temporary low is made and consolidation with upside bias is seen for a long-overdue retracement towards 113.66 objective.
Only below 112.73 risks marginal weakness, however, loss of momentum would limit downside to 112.45/50.
U.S. will release a slew of eco. data later today, please refer to our EI page for details.
Although market is paying attention to U.S. CPI n core CPI at 13:30GMT, a higher-than-expected reading may give the buck a temporary lift, as Fed's J. Powell has repeatedly said recent rising trend in inflation is 'transitory', only consistent upbeat U.S. jobs report would push the Fed to start hiking rates early next year.
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Update Time:10 Nov 2021 09:30GMT
USD/JPY - 113.09
Despite yesterday's resumption of recent erratic decline from Oct's 3-year peak at 114.69 to a 4-week trough of 112.73, subsequent bounce to 112.11 (New York), then intra-day brief break above there on rally in U.S. yields suggests temporary low is made and consolidation with upside bias is seen for a long-overdue retracement towards 113.66 objective.
Only below 112.73 risks marginal weakness, however, loss of momentum would limit downside to 112.45/50.
U.S. will release a slew of eco. data later today, please refer to our EI page for details.
Although market is paying attention to U.S. CPI n core CPI at 13:30GMT, a higher-than-expected reading may give the buck a temporary lift, as Fed's J. Powell has repeatedly said recent rising trend in inflation is 'transitory', only consistent upbeat U.S. jobs report would push the Fed to start hiking rates early next year.
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