AceTraderFx Apr 18: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 18 Apr 2019 09:30 GMT
USD/JPY - 111.87
Although dollar has retreated after yesterday’s brief rise to a near 4-month high at 112.17 at Asian open and range trading would be seen before medium term upmove from January’s 9-month trough of 104.79 resumes and head towards 112.50/55 but reckon 112.67 would cap upside.
On the downside, only below 111.58 would risk stronger retracement towards 111.28, then possibly 111.00/05.
Data to be released on Thursday :
Germany producer prices, Markit manufacturing PMI, Markit services PMI, Swiss trade balance, imports, exports, France Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, UK retail sales, Italy industrial orders, industrial sales.
U.S. initial jobless claims, Philadelphia Fed survey, retail sales, Markit manufacturing PMI, Markit services PMI, business inventories, leading indicator, and Canada ADP employment change, retail sales.