AceTraderFx Sept 26: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 26 Sept 2019 09:30GMT
USD/JPY - 107.68
Despite dollar’s selloff to 106.97 Tuesday, subsequent rebound to 107.88 in New York yesterday suggests recent decline from last Wednesday’s 6-week high at 108.47 has ended and consolidation with upside bias remains for gain to 108.20/30, but 108.47 would hold today.
On the downside, only below 107.42 signals correction has ended and bring re-test of 106.97.
BOJ Gov. Kuroda is due to speak at an annual meeting of securities firms in Tokyo at 06:30GMT. There will be a heavy data dump in U.S. session today, please refer to our EI section for details, pay particular attention to Q2 GDP data at 12:30GMT.
We also have a number of Fed officials scheduled to speak later today too.