AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

DAILY MARKET OUTLOOK on Major
Update Time: 13 Apr 2022 09:30GMT

USD/JPY - 126.03
Dollar's resumption of recent uptrend to a near 7-year peak at 125.77 in New York Mon on broad-based usd's strength due to rally in U.S. yields, then intra-day firm break of 2015 high of 125.86 on active selling in yen in European morning suggests further gain towards 126.40/45 is envisaged before a much-needed correction occurs due to over-bought condition.

On the downside, only a daily close below 125.75/77 would indicate a temporary top is made and risk stronger retracement to 125.10/15 but 124.78 should hold.

Data to be released on Wednesday:
U.K. PPI output prices, PPI input prices, RPI, CPI, DCLG house price, Italy industrial output.
U.S. MBA mortgage application, PPI and Canada interest decision.


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

DAILY MARKET OUTLOOK on Major
Update Time: 14 Apr 2022 09:30GMT

USD/JPY - 125.36
Despite dollar's resumption of uptrend to a near 20-year peak at 126.31 in Europe Wed, subsequent retreat to 125.09 in Europe today on active yen buying signals a temporary top is made and consolidation is in store, reckon 125.05/10 would hold and yield prospect of another rebound, above 125.75/80 would bring re-test of 126.31.

On the downside, only a daily close below 124.78 would risk stronger retracement to 124.35/40.

Data to be released on Thursday :
U.K. RICS housing price balance, Germany wholesale price index, Swiss producer/import price, EU ECB deposit rate, ECB refinancing rate.
U.S. retail sales, continuing jobless claims, initial jobless claims, imports prices, export prices, University of Michigan sentiment, business inventories, Canada wholesale trade and manufacturing sales.

 

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

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

USD/JPY - 128.45
Dollar's impressive rally from 126.97 (AUS) to a fresh near 20-year peak of 128.32 at European open, then present break there on active selling in yen suggests recent uptrend would head to 128.35 after consolidation, however, overbought condition is likely head to cap price below 128.65/70 and yield a much-needed correction later.

On the downside, only a daily close below 127.22/27 would indicate a temporary top is in place and risk stronger retracement towards 126.79.

Data to be released on Tuesday :
Canada housing starts, U.S. housing starts, building permits and redbook.

 

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

DAILY MARKET OUTLOOK on Major
Update Time: 20 Apr 2022 09:30GMT

USD/JPY - 128.66
Despite dollar's intra-day rally above 128.97 (Tuesday) to a fresh 20-year peak at 129.40 in Asia on active selling in yen, subsequent brief but sharp retreat to 128.07 in tandem with U.S. yields suggests recent upmove has made a temporary top there and consolidation is in store, reckon 126.30/35 would hold and yield another rise, above 129.40, 129.70/80 later.

On the downside, only a daily close below 128.07 would risk stronger retracement towards 127.79.

Data to be released on Wednesday:
Germany producer prices, Italy trade balance, EU industrial production, trade balance.
U.S. MBA mortgage application, existing home sales, Canada new housing price index and CPI.

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

DAILY MARKET OUTLOOK on Major
Update Time: 21 Apr 2022 09:30GMT

USD/JPY - 128.18
Dollar's selloff from Wednesday's fresh near 20-year peak at 129.40 to as low as 127.47 in New York on broad-based usd's retreat due to fall in U.S. yields suggests recent erratic upmove has made a temporary top there and as 128.63 has capped intra-day recovery in Asia, consolidation with downside bias remains but below 127.47 needed to yield stronger retracement towards 127.22.

On the upside, only a daily close above 128.63/74 would revive bullishness for 128.98, break would re-test said resistance later.

Data to be released on Thursday:
France business climate, EU HICP.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index and EU consumer confidence.

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

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

USD/JPY - 128.12
Although dollar's erratic rise from 127.47 (Wednesday) to 128.70 Thur in tandem with U.S. yields suggests 1st leg of correction from last Wednesday's fresh near 20-year peak at 129.40 has ended, intra-day retreat from 128.69 to 127.75 in Europe on possible yen intervention news suggests choppy trading below said resistance would continue and below 127.47 would yield stronger retracement towards 127.20/25 later.

On the upside, only a daily close above 128.69/74 would abort daily bearishness and risk stronger gain to 129.00/10 on Monday.

Data to be released on Friday:
U.K. Gfk consumer confidence, retail sales, 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, EU current account.
Canada producer prices, retail sales, U.S. Markit manufacturing PMI and Markit services PMI.

 

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

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

USD/JPY - 128.07
Although dollar's erratic rise from 127.47 (Wed) to 128.70 Thur in tandem with U.S. yields suggests 1st leg of correction from last Wed's fresh near 20-year peak at 129.40 has ended, intra-day retreat from 128.69 to 127.75 in Europe on possible yen intervention news suggests choppy trading below said resistance would continue and below 127.47 would yield stronger retracement towards 127.20/25 later.

On the upside, only a daily close above 128.69/74 would abort daily bearishness and risk stronger gain to 129.00/10 later this week.

Data to be released later:
Germany Ifo business climate, Ifo current conditions, Ifo expectations, Italy Market Holiday, EU construction output, U.K. CBI trends orders.
U.S. national activity index and Dallas Fed manufacturing business index on Monday.


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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Apr 2022 09:30GMT

USD/JPY - 127.95
Although dollar's early strong retreat from last Wed's near 2-year peak at 129.40 for 127.53 in New York morning yesterday and intra-day break there to 127.35 in Asia suggests recent upmove has made a temporary top there, subsequent rebound signals consolidation with upside bias remains but above 128.59 is needed to extend towards 128.86.

On the downside, only a daily close below 127.35 would risk stronger retracement to 127.00/10.

Data to be released on Tuesday:
U.K. right move house price, Japan unemployment rate, U.K. PSNB, PSNCR, Swiss exports, imports, trade balance.
U.S. building permits. durable goods, durable ex-transport, durables ex-defense, U.S. redbook, monthly home price, consumer confidence, new home sales and Richmond Fed manufacturing.

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Apr 2022 09:30GMT

USD/JPY - 127.85
Despite dollar's marginal break of 127.03 (Tue) to a 1-week bottom at 126.96 in Australia today, subsequent strong recovery on active selling in yen suggests 1st leg of correction from Apr's near 20-year peak at 129.40 over and above 127.85/90 would yield stronger gain to 128.20/22 but reckon 128.49/59 resistance would remain intact initially.

On the downside, only a daily close below 126.96 would risk one more fall to 126.45/50.

Data to be released on Wednesday:
Italy trade balance, Swiss investor sentiment.
U.S. MBA mortgage application, goods trade balance, wholesale inventories and pending home sales

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

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

USD/JPY - 130.70
Dollar's intra-day impressive rally in Asia on active selling in yen after BoJ's dovish hold and then break of last Wednesday's near 20-year peak at 129.60 suggests recent upmove would extend to 130.85, however, reckon 131.50/55 would hold and yield a much-needed correction due to overbought condition.

On the downside, only a daily close below 129.40 would indicate a temporary top is in place and risk stronger retracement to 128.90/00 later.

Data to be released on Thursday:
Italy business confidence, consumer confidence, industrial sales, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, KC Fed manufacturing and Canada average weekly earnings.

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