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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 197444, member: 22847"] [B]AceTraderFx [COLOR=darkred]July 15: [/COLOR]Daily Recommendations on Major –USD/JPY [ATTACH type="full"]18825[/ATTACH] DAILY MARKET OUTLOOK on Major[/B] Update Time[B]: 15 July 2021[/B] [I]09:30GMT[/I] USD/JPY - 109.80 Despite dollar's rally from last Thur's 3-week trough at 109.54 to 110.69 in Asia yesterday, subsequent selloff to 109.94 yesterday on Federal Reserve Chairman Jerome Powell's dovish testimony and intra-day break below there suggests said correction has ended and consolidation with downside bias remains for a re-test of said support, break would extend recent decline to 109.30 before prospect of a rebound. On the upside, only above 110.21 would indicate a temporary low has been made and risk stronger retracement to 110.40, then 110.64. U.S. will release a slew of eco. data, please refer to our EI page for details. Pay attention to another round of J. Powell's comments when he testifies at 13:30GMT on Capital Hill on the second day of his 2-day semi-annual testimony before the Congress. We also have Chicago Fed President Evans speaking at 15:00GMT [/QUOTE]
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