AceTraderFx Nov 27: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 27 Nov 2019 09:30GMT
USD/JPY - 109.16
Despite dollar’s retreat from 109.20 in Asia yesterday to 108.88 (Europe), subsequent rebound suggests correction has ended and consolidation with upside bias remains for re-test of Nov’s 5-month peak at 109.48, break would extend upmove from 104.46 (Aug) to 108.70/75 before prospect of correction due to over/bought condition
On the downside, only below 108.88 signals temporary top made and risks weakness to 108.48, break, 108.25/29.
Data to be released later:
UK BRC shop price index, Australia construction work done, Germany import prices, France consumer confidence, Italy Mfg business confidence, consumer confidence, Swiss investor sentiment.
U.S. MBA mortgage applications, durable goods, durables ex-transport, durables ex-defense, GDP, GDP deflator, core PCE, PCE price index, initial jobless claims, personal income, personal spending, pending home sales, Fed’s Beige Book.