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Daily Recommendations on Major -USD/JPY

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Jan 5, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    DAILY MARKET OUTLOOK Update Time: 05 Jan 2016 09:09 GMT USD/JPY - 119.21 Despite yesterday's intra-day sharp selloff below 120.01 sup (now res) to an 11-week trough of 118.70 due to active buying of yen on risk aversion following intra-day global stock market rout, subsequent short-covering rebound in New York to 119.50, then 119.70 in Asia suggests choppy sideways trading is in store, as long as said Asian high holds, outlook remains mildly bearish for weakness

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