Intraday trading signal - page 253
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AceTraderFx May 26 : Daily Recommendations on Major USD/JPY
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
Intra-Day Market Moving News and Views
27 May 2016 1:08GMT
USD/JPY - ......Japanese media reported ahead of Tokyo morning the Japanese Prime Minister Shinzo Abe is considering to delay a sales tax hike, originally planned in April 2017, by around two years. And Abe would likely announce the delay as early as June 1, when the current parliament session closes.
The decision would come in the wake of a Group of Seven (G7) summit, Abe is hosting in western Japan, where he told the leaders the global economy may be on the verge of a financial crisis on the scale of the collapse of Lehman Brothers in 2008.
The postponement by two years would still allow Japan to meet its target of turning the country's budget deficit into a surplus by fiscal 2020, the Yomiuri newspaper said.
Abe has pledged to raise Japan's sales tax to 10 percent from 8 percent in April next year, however, with Japan skirting recession and inflation still anemic, many of his aides have proposed postponing the tax hike to ensure Japan makes a sustained exit from deflation.
The media reported that Abe will shortly convey his idea to Finance Minister Taro Aso and the head of his ruling Liberal Democratic Party's coalition partner.
The Asahi also reported that Abe would forgo calling a snap election of the lower house of parliament, instead focusing on an upper house election already scheduled in July.
There had been some speculation that Abe would call a lower house election to coincide with the upper house election.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
Update Time: 27 May 2016 05:03 GMT
EUR/USD - 1.1188
Yesterday's break of 1.1180 level to 1.1217 in New York morning confirms euro's recent decline from May's 8-month peak at 1.1617 has indeed formed a temporary low earlier at 1.1129 on Wed and several days of volatile consolidation with near term upside bias is seen, a daily close above res at 1.1243 needed to bring stronger retracement towards 1.1293 next week.
On the downside, below 1.1146/50 would suggests said correction is over and risk one more fall to 1.1200/10, however, 'loss of momentum' would keep price above 1.1070.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx May 27 : Daily Recommendations on Major USD/JPY
Update Time: 27 May 2016 08:12 GMT
USD/JPY - 109.75
Despite dlr's erratic rise from 109.11 (Monday) to 110.45 (Wednesday), yesterday's selloff to 109.42 in Asia signals 'choppy' trading below last Fri's 3-wk peak at 110.59 would continue and below 109.11 would bring retrace. of early rise from 105.55 (May) towards 108.72.
Still favour trading from short side and only above 110.59 extends upmove from 105.55 to 111.10/20 later.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates