AceTraderFx Jan 24: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 24 Jan 2020 09:30GMT
USD/JPY - 109.57
Although dollar has recovered after yesterday’s resumption of recent decline from last Friday’s 7-1/2 month peak at 110.28 to a near 2-week bottom at 109.27 (NY), as long as 109.65 (European high) holds, consolidation with downside bias remains, below 109.27 would extend weakness to 109.00/05.
On the upside, only above 109.77 would risk gain to 110.09/11, then possibly 110.28.
On the data front, U.S. will release Markit manufacturing PMI and Markit services PMI at 14:45 GMT.