AceTraderFx Aug 03: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 03 Aug 2018[/B] [I]9:30 GMT[/I]
USD/JPY - 111.73
Despite the greenback’s selloff to 110.59 last Thursday, subsequent strong rally to 111.96 Tuesday, then to 112.15 Wednesday suggests decline from July’s 6-month peak at 113.17 has made a temporary low there and choppy trading with upside bias would be seen for stronger retracement towards 112.40/41 but near term loss of momentum would keep price below 112.80/82 ahead of U.S. jobs data.
On the downside, only below 110.75 would confirm aforesaid recovery has ended instead and risk re-test of 110.59, break would extend to 110.28/30.
[B]Data to be released on Friday : [/B]
France budget balance, Markit services PMI, Swiss CPI, Italy Markit services PMI, industrial output, retail sales, Germany Markit services PMI, EU Markit services PMI, retail sales, UK Markit services PMI.
Canada trade balance, exports, imports, and U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, trade balance, goods trade balance, Markit services PMI, ISM non-manufacturing PMI.