AceTraderFx Oct 09: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 09 Oct 2019 09:30GMT
USD/JPY - 107.27
Despite dollar’s rise from last Thursday’s 3-week low at 106.49 to 107.46 Monday, subsequent retreat to 106.82 in Europe yesterday signals correction has possibly ended, intra-day rebound would bring range trading before price head towards 106.49, where break would extend to 106.24.
On the upside, only above 107.46 would yield gain towards 107.89, then 108.17.
U.S. will release some 2nd-tier economic data starting with MBA mortgage applications, JOLTS jobs openings, wholesale inventories and wholesale sales. Pay attention to release of Sep’s FOMC minutes at 18:00GMT which is expected to move intra-day market. We also have Fed’s Powell making an opening speech at a “Fed Listens” event in Kansas City at 15:00GMT and also KC Fed’s George at the same venue.