AceTraderFx Aug 16: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 16 Aug 2019 09:30 GMT
USD/JPY - 106.17
Dollar's decline from Tuesday's 106.97 high to 105.66 Wednesday suggests first leg of correction from Monday's fresh 7-month trough at 105.06 has ended, yesterday's brief jump to 106.78 at European open and then fall to 105.71 would bring range trading before price heads to 105.80/90, and below 105.66 needed for 105.30/40.
On the upside, only above 106.97 would risk gain towards 107.09 but 107.27 should hold.
Data to be released later :
EU trade balance and U.S. building permits, housing starts, University of Michigan consumer sentiment.
Update Time: 16 Aug 2019 09:30 GMT
USD/JPY - 106.17
Dollar's decline from Tuesday's 106.97 high to 105.66 Wednesday suggests first leg of correction from Monday's fresh 7-month trough at 105.06 has ended, yesterday's brief jump to 106.78 at European open and then fall to 105.71 would bring range trading before price heads to 105.80/90, and below 105.66 needed for 105.30/40.
On the upside, only above 106.97 would risk gain towards 107.09 but 107.27 should hold.
Data to be released later :
EU trade balance and U.S. building permits, housing starts, University of Michigan consumer sentiment.