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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 195605, member: 22847"] [B]AceTraderFx [COLOR=darkred]May 21: [/COLOR] Daily Recommendations on Major –USD/JPY [ATTACH type="full"]18468[/ATTACH] DAILY MARKET OUTLOOK on Major[/B] Update Time[B]: 21 May 2021[/B] [I]09:30GMT[/I] USD/JPY - 108.65 Despite dollar's strong rebound on Wednesday from 108.58 to 109.30 in Australia yesterday due to hawkish Fed minutes, subsequent fall to 108.76, then intra-day break there suggests decline from May's 1-month 109.78 peak would resume and extend marginally, however, oversold condition should prevent steep fall below 108.35/36 and yield another bounce. On the upside, above 108.89 (Asia) would risk stronger retracement to 109.05/10 but 109.30/33 should cap upside. [B]Data to be released on Friday: [/B] Australia manufacturing PMI, services PMI. U.K. Gfk consumer confidence, retail sales, Japan nationwide CPI, Jibun bank manufacturing PMI, U.K. retail sales, Markit manufacturing PMI, Markit services PMI, Swiss industrial production, France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, Italy Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, consumer confidence. Canada retail sales, U.S. Markit manufacturing PMI, Markit services PMI, existing home sale. [/QUOTE]
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