AceTraderFx Dec 24: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 24 Dec 2019 09:30GMT
USD/JPY - 109.38
Despite dollar’s rebound from 109.19 last Thursday to 109.53 yesterday, subsequent retreat suggests choppy trading below Dec’s 6-month high at 109.72 would continue, however, reckon said support would hold and yield prospect of another rise, above 109.70/72 would extend upmove from Aug’s 33-month trough at 104.46 to 109.93, then 110.00/10 before correction.
On the downside, only below 108.94 would risk stronger retracement to 108.44/46.