AceTraderFx Jan 07: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 07 Jan2022 09:30GMT
USD/JPY - 115.91
Dollar's retreat from Tuesday's 5-year peak at 116.34
and subsequent volatile swings on cross-buying in yen yesterday signals range trading would be in store before MT uptrend resumes and above 116.34 would head towards daily objective at 116.50, reckon loss of momentum would keep price below 116.80/90 and bring a much-needed correction later.
On the downside, only a daily close below 115.51 would indicate a temporary top has been made and risk stronger retracement to 115.20/25.
Data to be released on Friday:
Japan all household spending, Tokyo core CPI.
Swiss unemployment rate, retail sales, U.K. Halifax house prices, Markit construction PMI, Germany industrial output, exports, imports, trade balance, current account, France consumer spending, current account, industrial output, trade balance, imports, exports, EU HICP, retail sales, business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence.
U.S. non-farm payrolls private payrolls, unemployment rate, average earnings, Canada employment change, unemployment rate and Ivey PMI.
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
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Update Time: 07 Jan2022 09:30GMT
USD/JPY - 115.91
Dollar's retreat from Tuesday's 5-year peak at 116.34
and subsequent volatile swings on cross-buying in yen yesterday signals range trading would be in store before MT uptrend resumes and above 116.34 would head towards daily objective at 116.50, reckon loss of momentum would keep price below 116.80/90 and bring a much-needed correction later.
On the downside, only a daily close below 115.51 would indicate a temporary top has been made and risk stronger retracement to 115.20/25.
Data to be released on Friday:
Japan all household spending, Tokyo core CPI.
Swiss unemployment rate, retail sales, U.K. Halifax house prices, Markit construction PMI, Germany industrial output, exports, imports, trade balance, current account, France consumer spending, current account, industrial output, trade balance, imports, exports, EU HICP, retail sales, business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence.
U.S. non-farm payrolls private payrolls, unemployment rate, average earnings, Canada employment change, unemployment rate and Ivey PMI.
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