AceTraderFx Dec 23: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 23 Dec 2019 09:30GMT
USD/JPY - 109.37
Dollar’s rebound to 109.53 in Australia today suggests pullback from 109.70 has ended at 109.19 last Thursday and re-test of Dec’s 6-month high at 109.72 would be seen after consolidation, break would extend upmove from Aug’s 33-month trough at 104.46 to 109.93, then 110.10 before prospect of correction.
On the downside, only below 109.19 signals temporary top made and risks weakness to 108.94, then 108.44/46.
Pay attention to release of U.S. durable goods, durables ex-transport at 13:30GMT. Street forecasts are 1.9% and 0.1% vs previous readings of 0.5% and 0.5% respectively.