AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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AceTraderFx Jan 26: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 26 Jan2022 09:30GMT

USD/JPY - 114.09
Although the greenback's rebound from Mon's 1-month bottom at 113.48 to as high as 114.15 in New York Tue suggests recent decline from Jan's near 5-year peak at 116.34 has made a temporary low there, subsequent retreat in tandem with US stocks signals consolidation with downside bias remains and re-test of said support is seen but loss of momentum should keep price abv 113.15.

On the upside, only a daily close above 114.20/25 would risk stronger retracement to 114.54/55.

Data to be released on Wednesday:
New Zealand imports, trade balance, exports, Australia Market Holiday, Japan coincident index, leading indicator.
France consumer confidence, Swiss investor sentiment.
U.S. MBA mortgage application, building permits, goods trade balance, wholesale inventories, new home sales, Fed interest rate decision and Canada BOC interest rate decision.

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AceTraderFx Jan 27: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 27 Jan2022 09:30GMT

USD/JPY - 114.86
Despite the greenback's resumption of recent decline from Jan's near 5-year 116.34 peak to Mon's 1-month bottom at 113.47, subsequent rally to as high as 114.69 in post-FOMC New York Wed on Fed Powell's hawkish comments, then intra-day break there suggests price would head towards 115.05 but above needed for further gain to 115.25/35.

On the downside, only a daily close below 114.15 would signal said recovery over and risk weakness to 113.79/84 tomorrow.

U.S. will later release a slew of eco. data, pls refer to our EI page for details. Pay attention to weekly jobless claims n continued jobless claims as well as Q4 GDP n Q4 PCE.

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AceTraderFx Jan 28: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 28 Jan 2022 09:30GMT

USD/JPY - 115.62
Despite the greenback's resumption of recent decline from January's near 5-year 116.34 peak to Mon's 1-month bottom at 113.48, subsequent rally to as high as 115.48 yesterday, then intra-day break there suggests the correction has ended and consolidation with upside bias remains for gain to 115.84/90, however, near term loss of momentum would keep price below 116.00/05 today and bring retreat.

On the downside, only a daily close below 114.15 would signal said recovery over and risk weakness to 113.79/84 tomorrow.

Data to be released on Friday:
Japan Tokyo CPI, Australia PPI.
France consumer spending, GDP, producer prices, Swiss KOF indicator, Italy business confidence, consumer confidence, producer prices, German import prices, GDP, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence.
U.S. personal income, personal spending, PCE price index, employment wages, employment costs, University of Michigan sentiment and Canada budget balance on Friday.

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AceTraderFx Jan 31: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 31 Jan2022 09:30GMT

USD/JPY - 115.43
Thu's rally above last week's 115.05 top (now sup) to 115.48 (Thur), then to 115.68 Fri suggests pull- back from Jan's near 5-year peak at 116.34 has ended at last Mon's 113.48 trough n intra-day retreat would bring consolidation before heading towards 116.34 'later'.

Trade from long side for 115.90 and only daily close below 115.05 risks stronger retrace to 114.68/78 .

Data to be released today:
Japan industrial output, retail sales, consumer confidence, construction orders, housing starts, China Market Holiday.
Italy GDP, EU GDP, Germany CPI.
Canada producer prices, U.S. Chicago PMI and Dallas Fed manufacturing business index on Monday.

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AceTraderFx Feb 04: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 04 Feb 2022 09:30GMT

USD/JPY - 115.09
Despite dollar's fall from last Friday's 2-1/2 week peak at 115.68 to 114.17 on Wednesday, yesterday's cross-inspired rally suggests the pullback has ended and consolidation with upside bias remains for a re-test of said resistance, however, near term loss of momentum would prevent sharp move beyond there ahead of today's US jobs report release and risk has increased for a correction.

On the downside, only below 114.50/55 would indicate aforesaid recovery has ended instead and pressure price back down to 114.17 early next week.

T.F.I.F., market is awaiting release of U.S. jobs report but this may turn out to a non event as markets are well-prepared for an Omicron-driven drop in January payrolls after a surprise negative reading in ADP private payrolls (-301k actual vs +207K forecast) on Wed. In addution, several Fed officials in recent days have signalled comfort with the underlying direction of U.S. economy and focus is inflation, so next Thur's release of Jan's CPI will grab more attention, however, beware of better-than-expected NFP which may trigger pre-weekend short covering in the greenback.

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AceTraderFx Feb 07: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 07 Feb 2022 09:30GMT

USD/JPY - 115.18
Usd's strong rebound from 114.17 last Wed on cross-selling in yen and then rally to 115.42 in post-NPF trading last Fri on upbeat U.S. NFP suggests pullback from 115.68 has possibly ended and re-test of said resistance is seen, above would extend rise from 113.48 to 115.95.

On the downside, only a daily close below 115.00/04 may risk weakness to 114.76/78, break, 114.58 later.

Data to be released today:
New Zealand market holiday, Australia services index, retail sales, China services PMI, Japan leading indicator, Swiss unemployment rate, UK house prices, Germany industrial output, Italy unemployment rate, industrial output and EU sentix index on Monday.

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AceTraderFx Feb 08: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 08 Feb 2022 09:30GMT

USD/JPY - 115.36
Dollar's intra-day cross-inspired break of last week's 115.42 high suggests re-test of previous res at 115.68 would be seen after consolidation, break there would extend recent rise from Jan's 1-month trough at 113.48 to 115.90/00, loss of momentum should cap price below Jan's near 5-year peak at 116.34.

On the downside, below 115.00 any time signals temporary top is made and risks stronger retracement to 114.78.

On the data front, U.S. will later release 2nd-teir international trade, goods trade balance n redbook sales.
Traders will probably take cue from intra-day moves in U.S. yields n U.S. stocks.

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AceTraderFx Feb 09: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 09 Feb2022 09:30GMT

USD/JPY - 115.35
Dollar's intra-day cross-inspired break of last week's 115.42 high suggests re-test of previous res at 115.68 would be seen after consolidation, break there would extend recent rise from Jan's 1-month trough at 113.48 to 115.90/00, loss of momentum should cap price below Jan's near 5-year peak at 116.34.

On the downside, below 115.00 any time signals temporary top is made and risks stronger retracement to 114.78.

On the data front, this week's main focus is U.S. cpi on Thur, today, we have a slew of 2nd-tie eco. data, pls refer to our EI page for details. We also have Fed's Bowman n Cleveland Fed's President Mester (voter) speaking at 15:30GMT n 17:00GMT respectively.

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AceTraderFx Feb 10: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 10 Feb 2022 09:30GMT

USD/JPY - 115.60
Despite dollar's fall from 115.68 to 114.17 last Wed, subsequent erratic rise in tandem with U.S. yields and intra-day brief break of 115.68 suggests correction from Jan's 5-year peak at 116.34 has ended at 113.48 (Jan) earlier and upside bias remains for stronger gain towards 116.08, break, 116.30/34.

On the downside, only a daily close below 115.33 signals a temporary top is in place and would risk stronger retracement towards 115.06, then 114.92.

On the U.S. eco. data front, we have CPI n initial jobless claims n continued jobless claims at 13:30GMT, then later fereal budget ar 19:00GMT.

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AceTraderFx Feb 11: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 11 Feb 2022 09:30GMT

USD/JPY - 116.00
Despite the greenback's brief retreat from Thur's 5-week peak at 116.33 to 115.74 in New York, subsequent rebound in tandem with U.S. yields on Fed Bullard's hawkish comments suggests consolidation with upside bias remains for re-test of Jan's near 5-year 116.34 top, break would extend recent upmove towards 116.86 .

On the downside, only a daily close below 115.74 signals a temporary high is in place and would risk stronger retracement towards 115.33, then 115.06 on Mon.

Data to be released on Friday:
New Zealand manufacturing PMI, retail sales, Japan market holiday.
UK industrial output, manufacturing output, constriction output, trade balance, Swiss CPI.
U.S. consumer sentiment.

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AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update