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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 198136, member: 22847"] [B]AceTraderFx [COLOR=darkred]Aug 06: [/COLOR] Daily Recommendations on Major –USD/JPY[/B] [B][ATTACH type="full"]18950[/ATTACH] DAILY MARKET OUTLOOK on Major[/B] Update Time[B]: 06 Aug 2021[/B] [I]09:30GMT[/I] USD/JPY - 109.76 Despite the greenback's selloff yesterday to a 2-month trough at 108.73 at New York open on the release of poor U.S. ADP data, subsequent rally to 109.67 on hawkish comments from Federal Reserve's Clarida, then 109.75 today suggests recent decline has made a temporary low there and consolidation with upside bias remains for stronger retracement to 110.10/20, however, overbought condition would keep price below 110.50/60. On the downside, only below 108.88 would indicate aforesaid recovery has ended instead and risk re-test of said support, break would extend to 108.50/60. [B]Data to be released on Friday: [/B] Australia AIG services index, Japan all household spending coincident index, leading indicator, China export, import, trade balance. Germany industrial output, U.K. Halifax house prices, France current account, Non-Farm payrolls, trade balance, imports, exports, Italy industrial output. U.S. Non-Farm Payrolls, private payrolls, unemployment rate, average earnings, wholesale inventories, wholesale sales, Canada employment change, unemployment change, and Ivey PMI. [/QUOTE]
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