AceTraderFx Apr 12: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 12 Apr 2021 09:30GMT
USD/JPY - 109.46
Despite the greenback's erratic decline from March's 1-year peak at 110.96 to a 2-week bottom at 109.01 Thursday in tandem with falling U.S. yields, subsequent rebound suggests a temporary low has possibly been made and consolidation with upside bias remains for stronger retracement to 110.10/15, however, 110.38 (previous support) should remain intact and yield retreat early next week.
On the downside, only below 109.01 would revive bearishness for one more fall to 108.67/70 before prospect of correction due to loss of momentum.
Later in New York session, we have Boston Fed's President Eric Rosengren scheduled to speak at 17:00 GMT.
DAILY MARKET OUTLOOK on Major
Update Time: 12 Apr 2021 09:30GMT
USD/JPY - 109.46
Despite the greenback's erratic decline from March's 1-year peak at 110.96 to a 2-week bottom at 109.01 Thursday in tandem with falling U.S. yields, subsequent rebound suggests a temporary low has possibly been made and consolidation with upside bias remains for stronger retracement to 110.10/15, however, 110.38 (previous support) should remain intact and yield retreat early next week.
On the downside, only below 109.01 would revive bearishness for one more fall to 108.67/70 before prospect of correction due to loss of momentum.
Later in New York session, we have Boston Fed's President Eric Rosengren scheduled to speak at 17:00 GMT.