AceTraderFx May 17: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 17 May 2019 09:30 GMT
USD/JPY - 109.67
Despite dollar's strong rebound from Mon's 3-month trough of 109.02 to 110.03 in Asian morning today, subsequent fall to 109.55 at European open on renewed U.S.-China trade tension suggests recovery has ended and price would head to 109.15/16 after range trading.
On the upside, only a daily close above 110.05 would risk gain towards 110.28/32, then possibly 110.60/70.
On the data front, U.S. will release a slew of eco. data (please see our EI page for details). Also we have a number of Fed officials speaking in New York session later (see EI page for details).
Update Time: 17 May 2019 09:30 GMT
USD/JPY - 109.67
Despite dollar's strong rebound from Mon's 3-month trough of 109.02 to 110.03 in Asian morning today, subsequent fall to 109.55 at European open on renewed U.S.-China trade tension suggests recovery has ended and price would head to 109.15/16 after range trading.
On the upside, only a daily close above 110.05 would risk gain towards 110.28/32, then possibly 110.60/70.
On the data front, U.S. will release a slew of eco. data (please see our EI page for details). Also we have a number of Fed officials speaking in New York session later (see EI page for details).