AceTraderForex April 25: Daily Market Outlook on USD/JPY

AceTraderFx Feb 14: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 14 Feb 2020 09:30GMT

USD/JPY - 109.77
Dollar’s retreat from Wednesday’s 3-week high at 110.13 to 109.63 yesterday suggests choppy trading below January’s 7-1/2 month top at 110.28 would continue, however, subsequent rebound signals pullback has possibly ended, above 110.13 would confirm and yield 110.28 again, break would extend gain to 110.60/67 before prospect of correction.

On the downside, only below 109.57/47 would risk stronger retracement to 109.26/31.

Data to be released later:
Germany GDP, wholesale price index, Swiss producer/import price, Italy trade balance, EU employment change, trade balance, GDP.
U.S. import prices, retail sales ex-autos, retail sales, industrial production, capacity utilization, manufacturing output, business inventories, University of Michigan sentiment.