AceTraderFx Nov 08: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 08 Nov 2019 09:30GMT
USD/JPY - 109.28
Dollar’s firm break of October’s high at 109.28 to a 5-month top at 109.48 (New York) yesterday on rising U.S. yields signals upmove from August’s 33-month trough at 104.46 has resumed and gain towards 109.93 would be seen after consolidation but 110.00 should hold due to loss of upward momentum.
On the downside, only below 108.83 suggests temporary top has been made and risks weakness to 108.66, break, 108.32.
Data to be released on Friday :
Swiss unemployment rate, Germany exports, imports, trade balance, current account, France current account, industrial output, non-farm payrolls, trade balance, imports, exports.
Canada housing starts, building permits, employment change, unemployment rate, and U.S. University of Michigan sentiment, wholesale inventories, wholesale sales.