AceTraderFx Oct 26: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 26 Oct 2018 09:30 GMT
USD/JPY - 112.04
Despite dollar's selloff this week to 111.82 yesterday, subsequent rebound suggests further choppy trading above October's low at 111.63 would continue with mild upside bias and marginal gain can't be ruled out.
However, as broad-outlook remains consolidative, reckon resistance at 112.74 should remain intact and yield another fall towards said support, break would extend decline from 114.55 to 111.12/15 later.
On the upside, only above 112.74 would dampen daily bearishness and risk gain towards 112.89 but above is needed to yield stronger retracement of aforesaid fall to 113.10/20.
Data to be released later on Friday :
Germany Gfk consumer confidence, France PPI, consumer confidence, U.S. GDP, PCE and U. of Michigan consumer sentiment.
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Update Time: 26 Oct 2018 09:30 GMT
USD/JPY - 112.04
Despite dollar's selloff this week to 111.82 yesterday, subsequent rebound suggests further choppy trading above October's low at 111.63 would continue with mild upside bias and marginal gain can't be ruled out.
However, as broad-outlook remains consolidative, reckon resistance at 112.74 should remain intact and yield another fall towards said support, break would extend decline from 114.55 to 111.12/15 later.
On the upside, only above 112.74 would dampen daily bearishness and risk gain towards 112.89 but above is needed to yield stronger retracement of aforesaid fall to 113.10/20.
Data to be released later on Friday :
Germany Gfk consumer confidence, France PPI, consumer confidence, U.S. GDP, PCE and U. of Michigan consumer sentiment.
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 updates