AceTraderFx Sept 27: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 27 Sept 2018 10:00 GMT
USD/JPY - 112.65
Despite the greenback’s spike up to 113.13 in New York afternoon yesterday after the Federal Reserve’s rate hike, subsequent selloff to 112.63 in Australia, then to 112.56 in Europe suggests recent upmove from August’s low at 109.78 has made a temporary top there and choppy trading below June’s 6-month peak at 113.17 would continue with downside bias, however, support at 112.28 should remain intact, yield rebound.
On the upside, only above 113.13 would revive bullishness for a re-test of 113.17, break would extend medium-term uptrend towards 113.39/40 later.
Data to be released later on Thursday :
Germany GfK consumer sentiment, CPI, HICP, Italy business confidence, consumer confidence, producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence.
Canada average weekly earnings, and U.S. durable goods, GDP, PCE, goods trade balance, wholesale inventories, initial jobless claims, pending home sales, KC Fed manufacturing.