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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 211313, member: 22847"] [B]AceTraderFx[COLOR="darkred"] Aug 01: [/COLOR] Daily Recommendations on Major –USD/JPY [ATTACH type="full"]22220[/ATTACH] DAILY MARKET OUTLOOK on Major[/B] Update Time: [B]01 Aug 2022[/B] [I]09:30GMT[/I] USD/JPY - 132.44 Despite dollar's intra-day cross-inspired selloff from 133.56 in Australia and then brief break of Friday's 132.51 bottom to a fresh 7-week trough of 132.08, subsequent short covering rise to 132.75 in Asia would yield choppy trading before down, reckon 131.50 should contain downside and yield rebound. On the downside, only a daily close above 132.75 would indicate a temporary bottom made and yield stronger retracement to 133.20/25, break, 133.51/56. [B]Data to be released today :[/B] Germany retail sales, S&P manufacturing PMI, Swiss Market Holiday, France S&P manufacturing PMI, EU S&P manufacturing PMI, unemployment rate, Italy S&P manufacturing PMI, unemployment rate. U.K. S&P manufacturing PMI, U.S. S&P manufacturing PMI, construction spending, ISM manufacturing PMI and Canada market holiday on Monday. [/QUOTE]
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