AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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AceTraderFx Aug 12: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 12 Aug 2022 09:30GMT

USD/JPY - 133.21
Although dollar's impressive rise from August's 7-week trough at 130.41 to as high as 135.57 (Monday) signals correction from Jul's 24-year 139.39 peak has ended, yesterday's selloff below 134.37 support to 132.04 on soft US yields signals choppy swings may continue and below 132.62 would head towards 132.04 later.

On the upside, only a daily close above 133.47 would suggest temporary low and risk stronger gain to 133.80/90.

Data to be released on Friday :
France ILO unemployment rate, U.K. GDP, industrial output, manufacturing output, construction output, trade balance, NIESR GDP estimate, France CPI, Italy trade balance, EU industrial production, Germany current account.
U.S. import prices, export prices and University of Michigan sentiment.

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AceTraderFx Aug 15: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 15 Aug 2022 09:30GMT

USD/JPY - 133.43
Although dollar's cross-inspired fall from 135.57 last Mon to as low as 131.74 (Thursday) suggests early strong rise from August's 7-week trough at 130.41 has made a top, subsequent gain to 133.89 Fri and then decline to 132.92 would yield further sideways swings but below 132.62 needed to yield weakness towards 132.04, reckon 131.74 should hold on 1st testing.

On the upside, a daily close above 133.59 (AUS) would revive bullishness for stronger gain towards 133.89, 134.37/42.

Data to be released today:
U.K. Rightmove house price, Japan GDP, industrial output, capacity utilization, Germany wholesales price index, France market holiday, Italy market holiday, Swiss producer/import price.
U.S. New York Fed manufacturing, NAHJB housing market index, Canada manufacturing sales and wholesale trades on Monday.

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AceTraderFx Aug 16: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 16 Aug 2022 09:30GMT

USD/JPY - 133.83
Although dollar's fall from 135.57 last Monday to 131.74 (Thursday) suggests early strong rise from August's 7-week bottom at 130.41 has made a top, subsequent rebound to 133.89 Friday and yesterday's decline to 132.56 in New York, then intra-day rebound on broad-based usd's strength in tandem with U.S. yields would prolong choppy range trading and above 133.54/59 needed for re-test of 133.89, break, 134.37.

On the downside, only a daily close below 132.56 may risk weakness towards 132.04 but 131.74 should hold.

Data to be released on Tuesday:
U.K. claimant count, ILO unemployment rate, average weekly earnings, EU trade balance, ZEW survey expectations, Germany ZEW economics sentiment, ZEW current conditions, Canada housing starts, CPI, U.S. building permits, housing starts, redbook, industrial output, capacity utilization and manufacturing output.

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AceTraderFx Aug 17: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 17 Aug 2022 09:30GMT

USD/JPY - 134.81
Despite dollar's fall from 135.57 last Monday to retrace early rise from August's 7-week 130.41 bottom to 131.74 on last Thursday, subsequent bounce to 133.89 and yesterday's cross-inspired rally to 134.68, then present break there in tandem with U.S. yields signals recent upmove would extend towards 135.30.

On the downside, only a daily close below 133.89/92 would prolong choppy swings and risk weakness to 133.54/59.

Data to be released on Wednesday:
U.K. CPI, RPI, PPI input prices, PPI output prices, EU employment, GDP.
U.S. MBA mortgage application, retail sales and business inventories.

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AceTraderFx Aug 18: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 18 Aug 2022 09:30GMT

USD/JPY - 135.32
Dollar's intra-day rally in tandem with U.S. yields to a 2-week high of 135.49 in New York suggests re-test of August's 135.57 high would be forthcoming next, above would extend upmove from August's 130.41 7-week trough at 130.41 towards 135.96 before prospect of decline later.

On the downside, only a daily close below 134.68 would prolong choppy swings and risk weakness towards 134.43, break would head to 133.92/97.

Data to be released on Thursday:
Swiss exports, imports, trade balance, EU construction output, HICP.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, Canada producer prices, U.S. existing home sales and leading index change.

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AceTraderFx Aug 19: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 19 Aug 2022 09:30GMT

USD/JPY - 136.51
Dollar's intra-day rally in tandem with U.S. yields to a 2-week high of 135.49 in New York suggests re-test of Aug's 135.57 high would be forthcoming next, above would extend upmove from Aug's 130.41 7-week trough at 130.41 towards 135.96 before prospect of decline later.

On the downside, only a daily close below 134.68 would prolong choppy swings and risk weakness towards 134.43, break would head to 133.92/97.

Data to be released on Friday :
U.K. Gfk consumer confidence, Germany producer prices, U.K. PSNB GBP, PSNCR GBP, retail sales, Swiss industrial production, EU current account.
Canada retail sales.

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AceTraderFx Aug 22: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 22 Aug 2022 09:30GMT

USD/JPY - 136.78
Dollar's rally on hawkish Fedspeak Thusday and then gain to 137.23 in New York on Friday on broad-based usd's strength in tandem with U.S. yields suggests correction from July's 24-year peak at 139.39 has ended earlier at 130.41 (August low) and further headway to 137.60/70 is envisaged, reckon 137.95 would cap upside and yield retreat later.

On the downside, only a daily close below 136.37 may risk stronger retracement to 135.80/90.

Data to be released later :
U.S. national activity index and Canada new housing price index on Monday.


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AceTraderFx Aug 23: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 23 Aug 2022 09:30GMT

USD/JPY - 137.22
Dollar's resumption of recent upmove from August's 130.41 bottom in tandem with U.S. yields to a near 1-month high of 137.64 in New York Monday on broad-based rally in usd, then intra-day break there suggests pullback from Jul's 24-year peak at 139.39 has ended and further gain to 138.00/10 is envisaged next after consolidation.

On the downside, only a daily close below 136.71 would indicate a temporary top is made and risk weakness to 136.32/37.

Data to be released on Tuesday:
France S n P manufacturing PMI, S n P global services PMI, Germany S n P manufacturing PMI, S n P global services PMI, EU S n P manufacturing PMI, S n P global services PMI, consumer confidence, U.K. S n P manufacturing PMI, S n P global services PMI.
U.S. building permits, redbook, S n P manufacturing PMI, S n P global services PMI, new home sales, and Richmond Fed manufacturing.

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AceTraderFx Aug 24: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 24 Aug 2022 09:30GMT

USD/JPY - 136.46
Although Tue's marginal gain to 137.71 (Asia) signals correction from July's 24-year 139.39 peak has ended at 130.41 (August low) earlier, selloff in New York to 135.82 on weak US PMIs suggests temporary top is made, subsequent bounce has retained bullish outlook and above 137.03/05 would yield stronger gain to 137.60/70.

On the downside, only a daily close below 136.00 would risk stronger retracement towards 135.82, break, 135.57.

Data to be released on Wednesday:
U.S. MBA mortgage application, durable goods, durables ex-transport, durables ex-defense and pending home sales.

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AceTraderFx Aug 25: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 25 Aug 2022 09:30GMT

USD/JPY - 136.57
Although Tue's marginal gain to 137.71 (Asia) signals correction from July's 24-year 139.39 peak has ended at 130.41 (August low) earlier, selloff in New York to 135.82 on weak US PMIs suggests temporary top is made, subsequent bounce has retained bullish outlook and above 137.03/05 would yield stronger gain to 137.60/70.

On the downside, only a daily close below 136.00 would risk stronger retracement towards 135.82, break, 135.57.

AceTrader - Best Intra-day Forex Trading Strategies
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