AceTraderFx Mar 24: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 24 Mar 2021 09:30GMT
USD/JPY - 108.66
The greenback's gap-down open to 108.53 in New Zealand on Monday on risk-averse buying in jpy due to a selloff in Turkish lira and then fall to 108.41 yesterday suggests recent upmove has made a temporary top at March's 9-month peak at 109.36 last week and consolidation with downside bias remains for stronger retracement to 108.35, however, support at 108.10 should remain intact and yield rebound later.
On the upside, only above 109.12 would indicate aforesaid correction has ended instead and risk re-test of said resistance later this week.
Data to be released on Wednesday :
New Zealand trade balance, exports, imports, Japan BoJ Mon. Pol. Meeting Minutes, Jibun Banking Mfg PMI, CPI, RPI, PPI input prices, PPI output prices.
EU markit manufacturing PMI, markit services PMI, consumer confidence, France consumer spending, markit manufacturing PMI, markit services PMI, Germany markit manufacturing PMI, markit services PMI, U.K. markit manufacturing PMI, markit services PMI, DCLG house price index.
U.S. MBA mortgage app, durable goods, durables ex-transport, durables ex-defence, markit manufacturing PMI, markit servi
DAILY MARKET OUTLOOK on Major
Update Time: 24 Mar 2021 09:30GMT
USD/JPY - 108.66
The greenback's gap-down open to 108.53 in New Zealand on Monday on risk-averse buying in jpy due to a selloff in Turkish lira and then fall to 108.41 yesterday suggests recent upmove has made a temporary top at March's 9-month peak at 109.36 last week and consolidation with downside bias remains for stronger retracement to 108.35, however, support at 108.10 should remain intact and yield rebound later.
On the upside, only above 109.12 would indicate aforesaid correction has ended instead and risk re-test of said resistance later this week.
Data to be released on Wednesday :
New Zealand trade balance, exports, imports, Japan BoJ Mon. Pol. Meeting Minutes, Jibun Banking Mfg PMI, CPI, RPI, PPI input prices, PPI output prices.
EU markit manufacturing PMI, markit services PMI, consumer confidence, France consumer spending, markit manufacturing PMI, markit services PMI, Germany markit manufacturing PMI, markit services PMI, U.K. markit manufacturing PMI, markit services PMI, DCLG house price index.
U.S. MBA mortgage app, durable goods, durables ex-transport, durables ex-defence, markit manufacturing PMI, markit servi