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Forex Discussions
Fundamental Analysis
AceTraderFx: Intra-Day Market Moving News and Views
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[QUOTE="AceTRaderForex, post: 189749, member: 22847"] [B]AceTraderFx [COLOR="darkred"] [B]Jan 05[/B]:[B] [/B][/COLOR] Intra-Day News and Views & data to be released today –USD/JPY Intra-Day Market Moving News and View[/B] Update Time[B]: 05 Jan 2021 [/B][I]05:30GMT[/I] USD/JPY - 103.14... The greenback swung wildly in hectic trading on the first trading day of 2021. The pair met renewed selling at 103.31 ahead of Asian open yesterday and fell to a near 10-month trough at 102.72 in European morning after penetrating December's bottom at 102.88. However, lack of follow-through selling triggered active short-covering and price rebounded strongly to 103.25 in New York on safe-haven usd buying due to a selloff in U.S. stocks. Although dollar's rebound from yesterday's near 10-month trough at 102.72 to 103.25 suggests recent decline has made a temporary low there and choppy trading with mild upside bias would be seen, reckon offers at 103.30/40 would limit upside and yield another fall. Below 102.97/00 would bring re-test of said bottom, break would extend to 102.40/50. The is a slew of data to be released from U.S. today but one should pay attention to ISM manufacturing PMI at 14:45GMT. Street forecast is 56.6, down from previous reading of 57.5. [/QUOTE]
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