AceTraderFx Dec 23: Daily Recommendations on Major – USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 23 Dec 2020 09:30GMT
USD/JPY - 103.44
Despite dollar's resumption of medium term decline from March's high at 111.71 to a 9-month trough of 102.88 last Thursday, subsequent rise to 103.88 Monday suggests temporary low is made and yesterday's choppy swings would bring range trading, reckon 103.20/29 should contain downside and yield another rise.
Above 103.88/91 would extend to 104.10/14 but 104.30/40 should remain intact.
Below 103.20 risks 102.88.
On the data front, U.S. has a heavy calendar, please refer to our EI page for details
Update Time: 23 Dec 2020 09:30GMT
USD/JPY - 103.44
Despite dollar's resumption of medium term decline from March's high at 111.71 to a 9-month trough of 102.88 last Thursday, subsequent rise to 103.88 Monday suggests temporary low is made and yesterday's choppy swings would bring range trading, reckon 103.20/29 should contain downside and yield another rise.
Above 103.88/91 would extend to 104.10/14 but 104.30/40 should remain intact.
Below 103.20 risks 102.88.
On the data front, U.S. has a heavy calendar, please refer to our EI page for details