AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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AceTraderFx Apr 29: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 29 Apr 2022 09:30GMT

USD/JPY - 130.35
Despite dollar's impressive rally above previous April's peak at 129.40 to a 20-year high of 131.24 on active selling in yen after BoJ's dovish hold, intra-day retreat on broad-based profit taking in usd signals consolidation is in store, reckon 129.85/90 would contain downside and yield another rise, above 131.24 would extend to 131.48/53 later.

On the downside, only a daily close below 129.60 would indicate a temporary top is in place and risk stronger retracement towards 129.40, break, 129.10.

Data to be released on Friday:
France consumer spending, GDP, CPI, producer prices, Germany import prices, export prices, GDP, U.K. nationwide house price, Swiss retail sales, KOF indicator, Italy GDP, CPI, producer prices, EU HICP, GDP.
U.S. personal income, personal spending, PCE price index, employment wages, employment costs, Chicago PMI, University of Michigan sentiment, Canada GDP and budget balance.

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AceTraderFx May 03: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 03 May 2022 09:30GMT

USD/JPY - 130.16
Despite dollar's impressive rally above previous April's peak at 129.40 to a 20-year high of 131.24 on active selling in yen after BoJ's dovish hold, intra-day retreat on broad-based profit taking in usd signals consolidation is in store, reckon 129.85/90 would contain downside and yield another rise, above 131.24 would extend to 131.48/53 later.

On the downside, only a daily close below 129.60 would indicate a temporary top is in place and risk stronger retracement towards 129.40, break, 129.10.

Data to be released on Tuesday :
France budget balance, Germany unemployment rate, unemployment change, U.K. Markit manufacturing PMI, EU producer prices, unemployment rate.
U.S. redbook, durable goods, durables ex-defense, factory orders, durables ex-transport, JOLTS job openings.

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

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

USD/JPY - 130.04
Although dollar's retreat from last Thursday's 20-year peak a 131.24 to 129.33 Fri signals recent upmove has made a temporary top there, subsequent rebound and daily sideways swings suggests consolidation is in store, as long as Tuesday's bottom at 129.71 holds, upside bias remains but above 130.47 needed for 130.70/80, break would yield re-test of said resistance.

On the downside, only a daily close below 129.62 would risk stronger retracement towards 129.33, break, 129.00/10.

Data to be released on Wednesday:
U.K. BRC shop price, Japan Market Holiday, China Market Holiday, Germany exports, imports, trade balance, current account, Markit services PMI, Italy Markit services PMI, France Markit services PMI, EU Markit services PMI, retail sales.
U.S. MBA mortgage application, ADP employment change, international trade balance, good trade balance, Markit services PMI, ISM non-manufacturing PMI, Fed interest rate decision, Canada trade balance, exports and imports.

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AceTraderFx May 05:Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 05 May 2022 09:30GMT

USD/JPY - 129.76
Euro's intra-day strong rebound after yesterdays sharp fall from 130.37 to as low as 128.64 in post-FOMC New York on broad-based profit taking in usd after less hawkish comments from Fed's Powell suggests early pullback from April's 20-year peak at 131.24 has possibly ended and stronger gain towards 130.47 would be seen but above needed for 130.75/85 later.

On the downside, only a daily close below 129.00 would indicate aforesaid recovery over and risk re-test of 128.64, break, 128.20/25.

Data to be released on Thursday:
Germany industrial orders, Swiss CPI, France industrial output, U.K. Markit Services PMI, BOE interest rate decision, asset purchase program, BOE QE total, BOE QE corporate bond purchase, BOE MPC vote cut, BOE MPC vote unchanged, BOE MPC vote hike.
U.S. initial jobless claims, continuing jobless claims, labor costs and productivity.


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AceTraderFx May 06:
Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 06 May 2022 09:30GMT

USD/JPY - 130.42
Dollar's rally from 138.64 (Wed) to 130.55 Thur and intra-day break there on renewed broad-based usd's strength suggests early pullback from April's 20-year peak at 131.24 has ended and consolidation with upside bias remains, above 130.80 (Asia) would yield re-test of said resistance later.

On the downside, only a daily close below 129.99 would risk weakness to 129.55/65 but 129.30/40 should hold and yield rebound.

Data to be released on Friday:
Australia AIG services index, Japan Tokyo CPI.
Swiss unemployment rate, U.K. Halifax house prices, Markit construction PMI, Germany industrial output, France non-farm payrolls, Italy retail sales.
U.S. Non-farm payrolls, private payrolls, unemployment rate, average earnings, Canada employment change, unemployment rate and Ivey PMI.

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

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

USD/JPY - 130.15
Despite dollar's brief break of April's 131.24 top to a fresh 20-year peak at 131.34 in Europe Mon, subsequent retreat to 130.13 in tandem with US stocks and US yields in New York, with intra-day break there suggests recent erratic upmove has made a temporary top there and choppy trading is in store but above 130.55/57 needed to yield further gain to 130.80/90.

On the downside, only a daily close below 129.81 would risk stronger retracement towards 129.55 but 129.33 should hold.

Data to be released on Tuesday:
U.K. BRC retail sales, Japan all household spending, Australia retail sales, Italy industrial output, Germany ZEW economic sentiment, ZEW economic expectation.
Canada leading index and U.S. redbook.

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

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

USD/JPY - 130.01
Despite dollar's brief break of April's 131.24 high to a fresh 20-year peak on Monday, subsequent selloff to 130.13, then to 129.81 in Asia yesterday suggests recent upmove has made a temporary top there and consolidation is in store before prospect of another rebound but above 130.54/57 is needed to head back to 130.80/90.

On the downside, only a daily close below 129.50/60 would risk stronger retracement of said rise towards 129.33, break, 129.10.

Data to be released on Wednesday:
Germany CP.
U.S. MBA mortgage application, CPI and Federal budget.

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

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

USD/JPY - 128.57
Dollar's intra-day firm break of Wed's bottom at 129.46 in Europe due to safe haven buying on global weakness suggests erratic fall from Mon's fresh 20-year peak at 131.34 remains in force and further weakness to 128.10/20 would be seen, reckon 127.50 should contain downside and yield rebound due to over-sold condition.

On the upside, only a daily close above 129.46 would indicate aforesaid pullback over and yield stronger gain to 130.05/06.

Data to be released on Thursday:
New Zealand food price index, inflation forecast, Japan current account, trade balance, Eco watchers outlook, Eco watchers current, Australia consumer inflation, Swiss producer/import price.
U.K. RICS housing price balance, GDP, trade balance, construction output, manufacturing output, industrial output, NIESR GDP estimate.
U.S. initial jobless claims, continuing jobless claims and PPI.

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

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

USD/JPY - 128.83
Dollar's intra-day cross-inspired rally to 129.36 in Asia suggests 1st leg of correction from Mon's fresh 20-year peak at 131.34 has possibly ended and as 128.50 has contained retreat in European morning, bullishness remains for 129.36 after consolidation, break would yield further gain towards 139.88.

On the downside, only a daily close below 128.03 would indicate aforesaid recovery over and risk weakness towards 127.53.

Data to be released on Friday:
France CPI, EU industrial production.
U.S. import prices, export prices and University of Michigan sentiment.

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

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

USD/JPY - 129.31
Despite dollar's erratic fall from last Monday's fresh 20-year peak at 131.34 in tandem with U.S. yields to as low as 127.53 Thursday, subsequent strong rise to 129.45 Friday, then intra-day break there to 129.63 at Tokyo open today suggests pullback over but above 129.63 needed to yield stronger gain towards 129.88 after consolidation but 130.05/10 should hold.

On the downside, only a daily close below 128.71 would signal aforesaid recovery over and yield weakness towards 128.36.

Data to be released later:
Germany wholesales price index, EU trade balance.
Canada housing starts, manufacturing sales, wholesale trade, U.S. manufacturing on Monday.

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