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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 194617, member: 22847"] AceTraderFx [B][COLOR=darkred]Apr 27: [/COLOR] [B][B]Daily Recommendations on Major –USD/JPY[/B][/B] [ATTACH type="full"]18315[/ATTACH] DAILY MARKET OUTLOOK on Major[/B] Update Time[B]: 27 Apr 2021[/B] [I]09:30GMT[/I] USD/JPY - 108.34 Despite dollar's resumption of decline from March's 1-year peak at 110.96 to a fresh 6-week bottom of 107.49 in at New York open on Friday, subsequent bounce to 108.19 yesterday, then 108.38 today 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 107.49 would risk marginal weakness to 107.77 before prospect of rebound due to loss of momentum. [B]Data to be released on Tuesday : [/B] Italy business confidence, consumer confidence, trade balance, U.K. CBI distributive trades. U.S. redbook, monthly home price, consumer confidence, Richmond Fed manufacturing. [/QUOTE]
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