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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 132533, member: 22847"] [B]AceTraderFx July 25: Daily Recommendations on Major -USD/JPY [/B] [IMG]https://www.forexfactory.com/attachment.php?attachmentid=2410958&stc=1&d=1500975861[/IMG] [B]DAILY MARKET OUTLOOK on Major [/B] Update Time: [B]25 Jul 2017[/B] [I]09:33 GMT[/I] USD/JPY - 111.28 The greenback's intra-day fall below last Friday's low at 111.02 to 110.64 yesterday signals decline from July's near 4-month peak at 114.49 remains in progress and consolidation with downside bias remains for weakness towards 110.56 (61.8% retracement of rise from 108.13). However, near term loss of momentum would keep price above 109.63 this week and yield a much-needed correction later. On the upside, only above 112.42 would indicate a temporary low has been made and risk would increase for a stronger gain to 112.87, then 113.58. The FOMC will start its 2-day meeting today and as no press conference is scheduled, market wide expects it to be a non-event, so dlr is unlikely to make further upside gain. However, pay attention to release of a slew of U.S. data later in the day starting with Redbook retail sales, CS home price, consumer confidence and Richmond Fed mfg index. [/QUOTE]
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