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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 194350, member: 22847"] [B]AceTraderFx [COLOR=darkred]Apr 21: [/COLOR] [B]Daily Recommendations on Major –USD/JPY[/B][/B] [B][ATTACH type="full"]18287[/ATTACH] DAILY MARKET OUTLOOK on Major[/B] Update Time[B]: 21 Apr 2021[/B] [I]09:30GMT[/I] USD/JPY - 108.24 Despite dollar's resumption of decline from March's 1-year peak at 110.96 to a 6-week bottom of 107.88 at Asian open today, intra-day bounce in tandem with recovery in US yields suggests temporary low is possibly made and above 108.54/62 would bring stronger retracement to 108.80/85 but 109.09 should hold today, yield retreat. On the downside, below 107.88 would risk marginal weakness to 107.77 before prospect of rebound due to loss of momentum. U.S. economic calendar is very thin with 2nd-tier MBA mortgage applications being the only data out later today, therefore, traders will continue to take cue from intra-day moves in US yields n US stock futures as dlr rallied in tandem with intra-day bounce in US yields in Europe yesterday and later fell as US yields came off again on weakness in U.S. stocks. [/QUOTE]
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