AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

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DAILY MARKET OUTLOOK on Major

Update Time: 12 Jan 2022 09:30GMT

USD/JPY - 115.39
Despite dollar's strong rebound form 115.05 to as high as 115.67 in New York Tue on active cross-selling in yen, subsequent retreat on broad-based usd's weakness after less hawkish comments from Fed's Powell suggests consolidation with downside bias remains, below 115.05 would extend recent decline from last Tue's near 5-year 116.34 peak to 114.68/73.

On the upside, a daily close above 115.67 would signal said pullback has ended and stronger gain to 116.00/04 is seen.

U.S. will release a slew of eco. data n market focus is Dec CPI, a higher-than-expected reading would give usd a boost. Minneapolis Fed President Kashkari (non voter) will speaks on the economic outlook for 2022 before a virtual event at 18:00GMT.

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AceTraderFx Jan 13: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 13 Jan2022 09:30GMT

USD/JPY - 114.40
Dollar's selloff to a 2-week bottom at 114.39 in New York Wednesday on broad-based usd's weakness despite strong but in-line U.S. inflation data suggests decline from Jan's near 5-year 116.34 peak would head towards 113.95 before prospect of rebound due to loss of momentum.

On the upside, only a daily close above 115.05 signals 1st leg of correction over but 115.46 should cap upside.

U.S. will release a slew of eco. data, pls refer to our EI page for details n pay attention to weekly jobless claims, continued claims, PPI.
We also have a number of Fed officials scheduled to speak n Fed Governor Brainard will testify before a Senate Banking Committee hearing to consider the nomination to be vice chair of the Federal Reserve at 15:00GMT.

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AceTraderFx Jan 14: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 14 Jan2022 09:30GMT

USD/JPY - 113.81
Dollar's selloff below Mon's 115.05 bottom to a 3-week bottom at 114.01 in New York Thursday on continued usd's weakness due to fall in U.S. yields, then intra-day break there to 113.65 in Asia suggests decline from Jan's near 5-year 116.34 peak may head to 113.35/40 before prospect of a rebound due to loss of momentum.

On the upside, only a daily close above 114.39 signals a temporary trough is in place and stronger retracement to 114.65/70 is seen later.

Data to be released on Friday:
Japan corporate goods price, China exports, imports, trade balance.
U.K. GDP, industrial output, manufacturing output, construction output, trade balance, France budget balance, CPI, EU trade balance.
US import prices, export prices, retail sales, industrial production, capacity utilization, manufacturing output, business inventories and University of Michigan sentiment.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 17 Jan2022 09:30GMT

USD/JPY - 114.37
Although dollar's short covering rally after last Fri's selloff to a 3-1/2 week trough at 113.49 on active buying in yen signals recent decline from Jan's 5-year peak at 116.34 has made a temp. low there and range trading is in store, reckon 114.70/75 would hold and yield another fall, below 114.01 would yield re-test of said support later.

On the upside, only a daily close above 114.70 would risk stronger gain towards 115.05, break, 115.25/30.

Data to be released today:
Japan machinery orders, tertiary industry activities, China industrial output, retail sales, GDP.
U.K. Rightmove house price, Italy CPI.
Canada leading index, U.S. Market Holiday and Canada manufacturing sales on Monday.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 18 Jan2022 09:30GMT

USD/JPY - 114.73
Despite the greenback's resumption of recent decline from Dec's near 5-year peak of 116.34 to a 3-1/2 week trough of 113.49 last Friday, subsequent strong rebound to 114.64 Mon and intra-day break there on BOJ unchanged rate decision suggests correction over and stronger retracement to 115.60/65 is seen.

On the downside, only below 114.26/36 signals said recovery is over and would risk weakness to 113.90/00 later.

Data to be released on Tuesday:
Japan BOJ interest rate decision, industrial output, capacity utilization, U.K. claimant count, ILO unemployment rate, employment change, average weekly earnings, Swiss producer/import price, Germany ZEW economic sentiment, ZEW current conditions, EU ZEW survey expectation, Canada housing starts, U.S. New York Fed manufacturing, NAHB housing market index and New Zealand GDT price index.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 19 Jan2022 09:30GMT

USD/JPY - 114.41
Despite the greenback's erratic rise from last Friday's 3-1/2 week bottom at 113.49 to as high as 115.05 in Asia Tue, subsequent strong retreat to 114.46 in New York on safe-haven yen buying due to global stock weakness and intra-day break there suggests price may head to 114.65/70 before rebound.

On the upside, a daily close above 114.78 (Asia) would yield re-test of 115.05, break, 115.26/30 later.

U.S. will later release of slew of second-tier eco. data, so market will take cue from movement in U.S. yields n equities.

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AceTraderFx Jan 20: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 20 Jan 2022 09:30GMT

USD/JPY - 114.34
Despite the greenback's erratic rise from last Friday's 3-1/2 week bottom at 113.49 to as high as 115.05 in Asia Tuesday, subsequent strong retreat to 114.46 in New York on safe-haven yen buying due to global stock weakness and intra-day break there suggests price may head to 114.65/70 before rebound.

On the upside, a daily close above 114.78 (Asia) would yield re-test of 115.05, break, 115.26/30 later.

U.S. will release a slew of eco. data later today, please refer to our EI page for details.
Pay attention to weekly jobless claims, continued jobless claims n Philly mfg index at 13:30GMT.

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AceTraderFx Jan 21: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 21 Jan2022 09:30GMT

USD/JPY - 113.91
The greenback intra-day firm break of 113.97 (Thur) on active yen buying due to risk-off trade suggests recovery from last Fri's 113.49 has possibly ended at 115.05 Tue and re-test of 113.49 would be forthcoming next, break would extend decline from Jan's 5-year high at 116.34 towards 113.15, then 112.90/95.

On the upside, only a daily close above 114.22 signals a temporary bottom is in place and stronger retracement to 114.54/55 would be seen next week.

Data to be released on Friday:
New Zealand manufacturing PMI, Australia manufacturing PMI, services PMI, Japan nationwide CPI.
U.K. Gkf consumer confidence, retail sales, EU consumer confidence, Canada ADP employment change, new housing price index, retail sales and leading index change.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 24 Jan2022 09:30GMT

USD/JPY - 113.69
Although the greenback's selloff to 113.61 in New York last Fri signals correction from Jan's 113.49 bottom has possibly ended at 115.05 last Tue, subsequent sideways swings then intra-day rebound would yield consolidation and below 113.49 would extend decline from Jan's near 5-year peak at 116.34 towards 113.15 later.

On the upside, a daily close above 114.54 would risk stronger retracement towards 115.00.

Data to be released today :
Australia manufacturing PMI, services PMI, Japan Jibun bank manufacturing PMI.
France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, U.K. Markit manufacturing PMI, Markit services PMI.
U.S. national activity index, Markit manufacturing PMI, Markit services PMI and Dallas Fed manufacturing business index on Monday.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 25 Jan2022 09:30GMT

USD/JPY - 113.93
Despite the greenback's selloff to a 1-month bottom at 113.48 in New York Mon, subsequent rebound to 113.99 in tandem with US yields n U.S. stocks, then intra-day break there to 114.09 in Australia suggests recent decline from Jan's near 5-year peak at 116.34 has made a temporary bottom there and retracement to 114.50/55 is likely before another fall.

On the downside, a daily close below 113.66 would yield further weakness towards 113.15 but 113.00 should hold.

U.S. will later release a slew of eco. data, pls refer to our EI page for details n pay attention to consumer confidence at 15:00GMT. The Fed starts its 2-day monetary policy today but market only anticipates a rate hike at Mar FOMC meeting.

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