AceTraderFx Jan 17: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 17 Jan 2020 09:30GMT
USD/JPY - 110.21
Dollar’s break above Tue’s 110.20 high to a fresh 7-1/2 month peak of 110.28 in Asia today confirms medium term upmove from Aug’s 33-month trough at 104.46 has once again resumed and would head towards 110.67 after consolidation, however, reckon 111.00/05 would remain intact and yield correction.
On the downside, below 109.72/79 signals temporary top made and risks stronger retracement to 109.44/50.
Data to be released later:
Swiss producer/import price, France budget balance, Italy trade balance, global trade balance, CPI, CPI (EU norm), EU current account, construction output, HICP, HICP core, UK retail sales, retail sales ex-fuel.
U.S. building permit, housing starts, industrial production, capacity utilization, manufacturing output, JOLTS job openings, University of Michigan sentiment.