AceTraderFx Mar 12: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 12 Mar 2019 09:30 GMT
USD/JPY - 111.34
Dollar's intra-day rise above Monday's 111.31 high to 111.46 in Asian morning suggests 1st leg of correction from last week's 10-week peak at 112.14 (Tuesday) has possibly ended at 110.79 Friday and stronger gain towards 111.65/70 would be seen but 111.86/92 should cap upside and yield retreat.
On the downside, below 110.79 needed to extend said fall towards 110.36 but 110.10/16 may hold.
Pay attention to the release of US CPI and core CPI at 12:30GMT.
Street forecasts CPI mm n yy are 0.2% n 1.6% vs previous readings of 0.0% n 1.6% respectively.
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Update Time: 12 Mar 2019 09:30 GMT
USD/JPY - 111.34
Dollar's intra-day rise above Monday's 111.31 high to 111.46 in Asian morning suggests 1st leg of correction from last week's 10-week peak at 112.14 (Tuesday) has possibly ended at 110.79 Friday and stronger gain towards 111.65/70 would be seen but 111.86/92 should cap upside and yield retreat.
On the downside, below 110.79 needed to extend said fall towards 110.36 but 110.10/16 may hold.
Pay attention to the release of US CPI and core CPI at 12:30GMT.
Street forecasts CPI mm n yy are 0.2% n 1.6% vs previous readings of 0.0% n 1.6% respectively.
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 updates