AceTraderFx Dec 28: Daily Recommendations on Major – USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 28 Dec 2020 09:30GMT
USD/JPY - 103.42
Although dollar's retreat from last Thursday's high at 103.76 suggests further choppy trading inside recent range of 102.88-103.88 would continue with mild downside bias and marginal weakness is likely to be seen, reckon 103.10/20 would remain intact and yield another rebound, above 103.88 is needed to yield stronger retracement of recent fall to 104.14 later this week.
On the downside, only below 102.88 would revive bearishness for stronger weakness to 102.40/50, then 101.90/00 before prospect of rebound.
U.S. markets are open later today n eco. calendar is pretty thin with Dallas Fed mfg business index the only dat due out at 15:30GMT.
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Update Time: 28 Dec 2020 09:30GMT
USD/JPY - 103.42
Although dollar's retreat from last Thursday's high at 103.76 suggests further choppy trading inside recent range of 102.88-103.88 would continue with mild downside bias and marginal weakness is likely to be seen, reckon 103.10/20 would remain intact and yield another rebound, above 103.88 is needed to yield stronger retracement of recent fall to 104.14 later this week.
On the downside, only below 102.88 would revive bearishness for stronger weakness to 102.40/50, then 101.90/00 before prospect of rebound.
U.S. markets are open later today n eco. calendar is pretty thin with Dallas Fed mfg business index the only dat due out at 15:30GMT.
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