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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 199035, member: 22847"] [B]AceTraderFx[COLOR=darkred] Sept 07: [/COLOR]Daily Recommendations on Major –USD/JPY [ATTACH type="full"]19100[/ATTACH] DAILY MARKET OUTLOOK on Major[/B] Update Time[B]: 07 Sept 2021[/B] [I]09:30GMT[/I] USD/JPY - 109.97 Despite the greenback's gain to 110.41 last Wednesday, subsequent selloff to 109.60 in New York on Friday following the release of poor U.S. non-farm payrolls suggests recent upmove from 109.12 has made a temporary top there and consolidation with downside bias remains for weakness to 109.42. However, said bottom should hold on 1st testing and yield a much-needed recovery later. On the upside, only above 110.41 would revive bullishness for a re-test of August's peak at 110.79, break needed to extend uptrend from 108.73 (August) towards 110.90/00 later. Although U.S. markets will re-open after Mon's Labor Day holiday, as no eco. data is due out, traders may take cue to movement in U.S. stocks and U.S. yields. [/QUOTE]
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