AceTraderFx Nov 18: Daily Recommendations on Major - USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 18 Nov 2019 09:50 GMT
USD/JPY - 108.91
Dollar's rebound from last Thur's trough at 108.25 to 108.85 on Friday and then intra-day break of this level suggests decline from Nov's 5-month high at 109.48 has made a temporary low there and consolidation with upside bias remains for gain to 109.14 is seen, break would confirm this view and extend to 109.29 but 109.48 may hold on first testing.
On the downside, only below 108.62 signals recovery is over and risk stronger weakness to 108.49, 108.25.
Data to be released later today:
UK Rightmove house price and U.S. NAHB housing market index on Monday.
DAILY MARKET OUTLOOK on Major
Update Time: 18 Nov 2019 09:50 GMT
USD/JPY - 108.91
Dollar's rebound from last Thur's trough at 108.25 to 108.85 on Friday and then intra-day break of this level suggests decline from Nov's 5-month high at 109.48 has made a temporary low there and consolidation with upside bias remains for gain to 109.14 is seen, break would confirm this view and extend to 109.29 but 109.48 may hold on first testing.
On the downside, only below 108.62 signals recovery is over and risk stronger weakness to 108.49, 108.25.
Data to be released later today:
UK Rightmove house price and U.S. NAHB housing market index on Monday.