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EXCELLENT JOB ON CALLING GOLD!!!
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Update Time: 07 Feb 2023 16:01GMT

DAILY AUD/JPY CROSS OUTLOOK - +91.00+
Intra-day retreat fm 91.95 (Asia) suggests the
recovery fm Fri's 90.43 bottom has possibly ended n
below 91.23 wud yield weakness twd 90.97 later.

Trade fm short side for 91.00 1st as only abv
91.95 wud risk one more rise twd 92.23, 92.81.
Rate: +91.00+
Strategy: +Target met+
Position: Short at 91.90
Objective: 91.00
Stop-Loss: Short at 91.90
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MARKET REVIEW ON 08 Feb 2023 00:07 GMT

Dollar pared intra-day gains after less-hawkish comments from Fed's Powell

Although the greenback edged higher in European and early New York session, price later fell from a 1-month high on speculation that the Fed is likely to slow down its tightening policy as widely expected due to less hawkish comments from Fed's Powell. 
 
Reuters reported Federal Reserve Chairman Jerome Powell said Tuesday very strong jobs data released last week simply affirms that the central bank has some way to go on raising rates. 
 
When it comes to Friday's release of the January jobs data, "we didn't expect it to be this strong,"  ...
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MARKET MOVING NEWS

   		All times in GMT    
8 Feb 2023 00:24 GBP/USD - 1.2050... Reuters reported Britain will dodge recession this year but its people will face the after-effects of a severe fall in living standards caused by surging inflation, which will leave millions struggling to pay their bills, academic researchers forecast on Wednesday. 
 
Britain's Nat.....
7 Feb 2023 17:58 USD/MAJORS - Reuters reported Federal Reserve Chairman Jerome Powell said Tuesday very strong jobs data released last week simply affirms that the central bank has some way to go on raising rates. 
 
When it comes to Friday's release of the January jobs data, "we didn't expect it to be this strong," P.....
7 Feb 2023 14:44 EUR/USD - 1.0687... Reuters reported the European Central Bank needs more, big interest rate increases to bring inflation back to 2% but it should proceed one step at a time given the prevailing uncertainty, ECB policymaker Joachim Nagel told a German daily. 
 
"From where I stand today we need furthe.....
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ECONOMIC INDICATORS FOR 08/02/2023

 All times in GMT    
Time Country Indicator Actual Forecast Range Previous Revised
2350 Japan Current Account JPY - Dec 33.4B 98.4B -626.9/1,450 1,803.6B
2350 Japan Trade Balance JPY - Dec -1,225B N/A N/A -1,537B
0200 U.S. President Biden speaks
0500 Japan Eco Watchers Current - Jan 48.5 48.1 N/A 47.9 48.7
0500 Japan Eco Watchers Outlook - Jan 49.3 46.2 N/A 47.0
0745 France Non-Farm Payrolls QQ - Q4 0.0% N/A N/A 0.4%
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DAILY MARKET OUTLOOK
Update Time: 08 Feb 2023 08:28 GMT

USD/JPY - 130.86
Despite dollar's resumption of upmove from Jan's 7-1/2 month 127.23 bottom to a 4-week high of 132.89 on Mon, subsequent selloff to 130.48 in New York yesterday on less-hawkish Fed Powell's comments confirms top made and intra-day bounce may head back to 131.65/70 before down and below 130.48 would head towards 129.86/92.   
  
On the upside, a daily close above 131.95/05 would risk 132.24/30.
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WHY AceTrader?
20 years of history in providing forex market analysis and trading recommendations to institutional traders
True 24 hours real-time analysis for up-to-the-minute recommendations and analysis
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DAILY GBP/USD TECHNICAL OUTLOOK

 All times in GMT    
Last Update At 08/02/2023 01:24 GMT
Trend Daily Chart Daily Indicators 21 HR EMA 55 HR EMA
Down Falling 1.2033 1.2059
Trend Hourly Chart Hourly Indicators 13 HR RSI 14 HR DMI
Sideways Turning up 53 +ve
Daily Analysis
Correction b4 one more fall
Resistance Support
1.2149 - Hourly chart
1.2121 - Equality of 1.1962-1.2095 fm 1.1988
1.2095 - Tue's high		 1.1988 - Reaction low fm 1.2095
1.1962 - Tue's fresh 3-week low
1.1941 - 150% ext. of 1.2400-1.2184 fm 1.2265
. GBP/USD - 1.2045...Although cable rebounded to 1.2058 in Asia on Tue, price met renewed selllin n fell to a fresh 4-week 1.1962 low in NY. The pair then rallied to 1.2095 on Fed Powell's comments b4 retreating again to 1.1988. . On the bigger picture, despite cable's brief break of 2016 post-Brexit low of 1.1491 to a near 35-year trough of 1.1412 in mid-Mar 2020 on safe-haven usd's.....
Click on the chart to enlarge image

charts offered by ProRealTime.com
 
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WHO WE ARE

AceTrader provides "up-to-the-minute" financial market commentaries and foreign exchange trading recommendations round the clock.

AceTrader is the internet operation of Trendsetter, a global specialist data provider who has been providing its users with real time commentaries and trading recommendations focusing on the foreign exchange market for over 20 years. A dedicated team 7 Analysts monitor the market and update recommendations and commentaries 20 hours a day.

Our coverage includes 20 different instruments with a primary focus on the foreign exchange market and Gold & Silver.

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