AceTraderFx Jul 05: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 05 Jul 2019 09:30 GMT
USD/JPY - 108.03
Although the greenback has retreated after Monday’s gap-up open on weekend news that U.S. and China will resume their trade talks and gain to 108.53 and minor consolidation would be seen ahead of today’s U.S. jobs report, as said move suggests upmove from last Tuesday’s 5-1/2 month trough at 106.79 has once again resumed, further gain towards 108.80 would be seen, however, over bought condition would keep price below 109.02/10 and yield a correction later this week.
On the downside, only below 107.06 would indicate a temporary top has been made and risk stronger retracement to 107.57/60.
Data to be released on Friday :
Germany industrial orders, France current account, trade balance, imports, exports, UK Halifax house price, labour productivity.
USA non-farm payrolls, private payrolls, unemployment rate, average earnings, and Canada employment change, unemployment rate, Ivey PMI.