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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 210714, member: 22847"] [B]AceTraderFx[COLOR="darkred"] July 18: [/COLOR]Daily Recommendations on Major –USD/JPY [ATTACH type="full"]22084[/ATTACH] DAILY MARKET OUTLOOK on Major[/B] Update Time: [B]18 July 2022[/B] [I]09:30GMT[/I] USD/JPY - 137.97 Although dollar's erratic fall from Thursday's fresh 24-year peak at 139.39 to 139.40 in New York Friday on profit taking suggests long term upmove has made a temporary top there, reckon 137.86 (Wednesday) should hold and yield another rebound due to near term oversold condition but 139.12 (Friday top) may cap upside today. On the downside, only a daily close below 137.60/70 would dampen bullishness and risk stronger retracement to 137.25/30. [B]Data to be released today:[/B] Italy trade balance, Canada housing starts. U.S. NAHB housing market index on Monday. [/QUOTE]
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