AceTraderFx Sept 19: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 19 Sept 2019 09:30GMT
USD/JPY - 108.04
Despite dollar’s rise to a fresh 6-week high at 108.47 in post FOMC New York, intra-day selloff to 107.80 (Asia) suggests temporary top is in place and subsequent rebound would yield consolidation before price head towards 107.69, however, 107.48 would hold and bring correction.
On the upside, only above 108.47 would risk gain to 108.74 before prospect of retreat due to loss of momentum.
Data to be released later:
Swiss trade balance, exports, imports, SNB interest rate decision, Germany wholesale price index, EU current account, UK retail sales, retail sales ex-fuel, BOE MPC vote hike, BOE MPC vote unchanged, BOE MPC vote cut, BOE interest rate decision, BOE QE total, BOE QE corp bond purchases.
And U.S. current account, initial jobless claims, Philadelphia Fed’s manufacturing survey, existing home sales, leading index.