AceTraderFx Apr 10: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 10 Apr 2018 09:30 GMT
USD/JPY - 107.02
Although price has retreated after dollar's rise to a fresh 1-month peak at 107.49 last week and minor consolidation would be seen, as said move signals medium-term decline has made a temporary low at March's 15-month bottom at 104.57, upside bias is retained and above 107.49 would yield stronger retracement towards 107.90.
However, near term loss of momentum would keep price below 108.35/40.
On the downside, only below 105.99 would indicate the first leg of correction has ended instead and turn outlook bearish for weakness towards 105.67/70.
Later today, U.S. will release final March PPI, core PPI, Redbook retail sales and whole sales data which are unlikely to have much impact on the greenback. Market will follow intra-day moves in U.S. yields n U.S. stocks.
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Update Time: 10 Apr 2018 09:30 GMT
USD/JPY - 107.02
Although price has retreated after dollar's rise to a fresh 1-month peak at 107.49 last week and minor consolidation would be seen, as said move signals medium-term decline has made a temporary low at March's 15-month bottom at 104.57, upside bias is retained and above 107.49 would yield stronger retracement towards 107.90.
However, near term loss of momentum would keep price below 108.35/40.
On the downside, only below 105.99 would indicate the first leg of correction has ended instead and turn outlook bearish for weakness towards 105.67/70.
Later today, U.S. will release final March PPI, core PPI, Redbook retail sales and whole sales data which are unlikely to have much impact on the greenback. Market will follow intra-day moves in U.S. yields n U.S. stocks.
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