AceTraderFx Jan 04: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 04 Jan 2019 09:30 GMT
USD/JPY - 107.93
Despite the greenback’s ‘flash crash’ to a fresh 9-month trough at 104.79 in Australia on Thursday on active safe-haven jpy buying due to Apple news, subsequent strong rebound to 108.31, then 108.45 today suggests Medium Term decline from 2018 peak at 114.55 (October) has made a temporary low there and choppy trading with upside bias would be seen, however, near term loss of momentum would keep price below 108.70/71 and yield a much-needed correction early next week.
On the downside, only below 105.67 would indicate aforesaid recovery has ended instead and risk re-test of 104.79, break, 104.10/20 later.
Data to be released on Friday :
UK BRC shop price index, nationwide house price, Markit services PMI, France CPI (EU norm), CPI, Italy Markit services PMI, CPI, CPI (EU norm), France Markit services PMI, Germany Markit services PMI, unemployment change, unemployment rate, EU HICP, producer prices.
U.S. building permits, goods trade balance, wholesales inventories, non-farm payrolls, private payrolls, unemployment rate, average earnings, Markit services PMI, new home sales, construction spending, and Canada employment change, unemployment rate, producer prices.