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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 200146, member: 22847"] [B]AceTraderFx[COLOR=darkred] Oct 07: [/COLOR]Daily Recommendations on Major –USD/JPY [ATTACH type="full"]19239[/ATTACH] DAILY MARKET OUTLOOK on Major[/B] Update Time[B]: 07 Oct2021[/B] [I]09:30GMT[/I] USD/JPY - 111.34 Despite the greenback's fall from last Thursday's fresh 19-month peak at 112.07 to 110.83 in New York on Monday, subsequent strong rebound in tandem with U.S. yields and cross-selling in jpy suggests the first leg of correction has possibly ended and consolidation with upside bias is seen for gain towards 111.81, reckon 111.95/00 would remain intact and yield retreat later this week. On the downside, only below 110.88 would revive bearishness for stronger retracement of Medium Term uptrend towards 110.79, then 110.54 before prospect of a rebound. U.S. will later release weekly jobless claims and continued jobless claims. We also have New York Fed President William and Cleveland Fed President Mester scheduled to speak at 12:40GMT and 15:45GMT respectively. [/QUOTE]
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