AceTraderFx July 07: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 07 Jul 2017 09:26 GMT
USD/JPY - 113.74
The greenback's intra-day break of Wednesday's high at 113.69 suggests erratic upmove from June's trough at 108.82 has once again resumed and consolidation with upside bias remains ahead of today's non-farm payrolls release for gain towards 113.85/90, then 114.10/20, however, near term loss of momentum would prevent strong gain beyond there and risk would increase for a much-needed correction early next week.
On the downside, only below 111.79 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.37/40.
Data to be released on Friday:
Australia construction index, Japan leading indicator, Swiss unemployment rate, Germany industrial output, France budget balance, trade balance, imports, exports, Italy retail sales, UK construction output, industrial output, manufacturing output, goods trade balance, Canada employment change, unemployment rate, Ivey PMI, U.S. non-farm payrolls, private payrolls, average earnings and unemployment rate.