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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 189853, member: 22847"] [B]AceTraderFx [/B][COLOR="darkred"] [B]Jan 07[/B]:[B] [/B][/COLOR] [B]Daily Recommendatioons on Major – USD/JPY [B][IMG]http://www.trendsetterfx.com/image/common/flag/flag_yen.gif[/IMG] [/B]DAILY MARKET OUTLOOK on Major[/B] Update Time: [B]07 Jan 2021 [/B][I]09:30GMT[/I] USD/JPY - 103.39 Despite the greenback's fall to a fresh 9-1/2 month trough at 102.60, subsequent rally to 103.44 yesterday suggests recent decline has made a temporary low there and as price has rebounded again after a brief retreat to 102.95 near New York close, bullishness is retained and above 103.44 would yield stronger retracement to 103.70/75 before prospect of retreat. On the downside, only below 102.95 would indicate aforesaid recovery has ended instead and risk re-test of 102.60 later. Pay attention to the release of US jobless claims at 13:30GMT and ISM non-manufacturing PMI at 15:00GMT. Street forecasts are 800k and 54.7 vs previous readings of 787k and 55.9 previously. [/QUOTE]
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