AceTraderFx Dec 21: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 21 Dec 2017 09:30 GMT
USD/JPY - 113.59
The greenback's strong rebound from last Friday's low at 112.03 strongly suggests the pullback from last Tuesday's high at 113.75 has ended there and consolidation with upside bias remains for upmove from November's 2-month trough at 110.84 to resume and yield re-test of said resistance, break would extend to 114.00/10 before prospect of a retreat due to near term loss of momentum.
On the downside, only below 112.83 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness to 112.51, then 112.03 again.
Data to be released on Thursday:
Japan Bank of Japan interest rate decision, Swiss exports, imports, trade balance, France business climate, U.K. PSNB, PSNCR.
U.S. GDP, PCE, core PCE, initial jobless claims, national activity index, monthly home price, Canada CPI, core CPI, retail sales, and EU consumer confidence.
Update Time: 21 Dec 2017 09:30 GMT
USD/JPY - 113.59
The greenback's strong rebound from last Friday's low at 112.03 strongly suggests the pullback from last Tuesday's high at 113.75 has ended there and consolidation with upside bias remains for upmove from November's 2-month trough at 110.84 to resume and yield re-test of said resistance, break would extend to 114.00/10 before prospect of a retreat due to near term loss of momentum.
On the downside, only below 112.83 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness to 112.51, then 112.03 again.
Data to be released on Thursday:
Japan Bank of Japan interest rate decision, Swiss exports, imports, trade balance, France business climate, U.K. PSNB, PSNCR.
U.S. GDP, PCE, core PCE, initial jobless claims, national activity index, monthly home price, Canada CPI, core CPI, retail sales, and EU consumer confidence.