AceTraderFx Feb 28: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 28 Feb 2019 09:30 GMT
USD/JPY - 110.72
Despite yesterday’s rally from 110.36 (Europe) to 110.07 in New York on rising U.S. yields, subsequent retreat and intra-day fall due to safe-haven yen buying on U.S.-North Korea news suggests further choppy trading below Monday’s near 2-month high of 111.23 would continue and below 110.36 would extend decline towards 110.26, then 109.90/00.
On the upside, only above 110.93 would indicate pullback has ended instead, risks gain to 111.07, then possibly re-test of 111.23.
Data out on Thursday :
Japan industrial output, retail sales, construction orders, housing starts, New Zealand NBNZ business outlook, NBNZ own activity, Australia capital expenditure, building capex.
UK GfK consumer confidence, nationwide house price, Swiss GDP, KOF indicator, Germany import prices, CPI, HICP, France consumer spending, GDP, CPI, producer prices.
U.S. GDP, PCE, initial jobless claims, Chicago PMI, KC Fed manufacturing index, and Canada current account, producer prices.