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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 196733, member: 22847"] [B]AceTraderFx [COLOR=darkred]Jun 24: [/COLOR] Daily Recommendations on Major –USD/JPY[/B] [B][ATTACH type="full"]18663[/ATTACH] DAILY MARKET OUTLOOK on Major[/B] Update Time[B]: 24 Jun 2021[/B] [I]09:30GMT[/I] USD/JPY - 110.87 Despite dollar's retreat from yesterday's near 15-month peak at 111.10 to 110.67 in New York, subsequent rally in tandem with U.S. yields and intra-day break above said resistance suggests consolidation with upside bias remains for Medium Term upmove to extend to 111.40/50 before prospect of a much-needed correction due to loss of momentum. On the downside, only below 110.48 would revive bearishness for stronger retracement of recent upmove to 109.72 but 109.20 should hold. Ahead of Friday's release of Fed's preferred inflation gauge, namely the core personal consumption expenditures price index, the U.S. will release a slew of eco. data which will cause intra-day price swings, please refer to our EI page for details n pay attention to Q1 GDP, durable goods n Q1 PCE prices etc. Following Wed's hawkish comments by Fed's Bowman n Bostic, we have more fed speak by a number of FOMC members, so usd may go up on more hawkish comments by some of them. [/QUOTE]
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