AceTraderFx May 15: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 15 May 2020 09:30GMT
USD/JPY - 107.06
Although dollar’s rebound from Wednesday’s 106.75 low to 107.43 in Asia today suggests decline from this week’s high at 107.76 (Monday) has made a temporary bottom, intra-day retreat on renewed usd’s weakness signals recovery has possibly ended, below 106.87 would confirm and head to 106.75, break, 10.640/45, however, reckon 106.20/23 would remain intact.
On the upside, only above 107.43 would revive bullishness for gain to 107.63, then 107.76 but 108.03/08 may hold.
Data to be released on Friday:
Germany GDP, producer prices, PPI, France CPI, CPI (EU-norm), Italy industrial orders, industrial sales, CPI, CPI (EU-norm), EU employment change, GDP, trade balance.
U.S. New York Fed manufacturing, retail sales, retail sales ex-autos, industrial production, capacity utilization, business inventories JOLTS job openings, University of Michigan sentiment on Friday.