AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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AceTraderFx Jun 30: Daily Recommendations on Major –USD/JPY

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

USD/JPY - 136.23
Despite resumption of uptrend to a fresh 24-year peak of 136.99 in New York yesterday, subsequent retreat in tandem with U.S. yields and intra-day fall from 136.81 to as low as 135.97 suggests temporary top has been made and consolidation with downside bias is seen for a long-overdue retracement to 135.54/59 but reckon 135.12 would contain weakness.

Only above 136.81 signals pullback over and yields one more rise towards projected target at 137.20 before prospect of a correction.

Data to be released on Thursday :
UK GDP, current account, nationwide house price, Germany import prices, retail sales, unemployment change, unemployment rate, CPI, Swiss retail sales, KOF indicator, France consumer spending, CPI, producer prices, Italy unemployment rate, producer prices, EU unemployment rate.
U.S. person income, personal spending, PCE price index, initial jobless claims, continuing jobless claims, Chicago PMI and Canada GDP.

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

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

USD/JPY - 135.35
Euro's selloff below 135.56 (Thursday) to as low as 134.75 in tandem with US yields at European open last Friday suggests long term uptrend has made a temporary top at Wednesday's fresh 24-year peak at 136.99 and subsequent sideways swings would yield consolidation before prospect of another fall, below 134.75 would head towards 134.53 but 134.27 should hold.

On the upside, only a daily close above 135.66 would signal aforesaid pullback over and risk gain to 135.88/98.

Data to be released today:
Germany exports, imports, trade balance, Swiss CPI, EU Sentix index, producer prices.
US Market Holiday and Canada SnP manufacturing PMI on Monday.

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

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

USD/JPY - 135.67
Dollar's selloff below 135.56 (Thur) to as low as 134.75 in tandem with US yields at European open last Fri suggests long term uptrend has made a temporary top at Wed's fresh 24-year peak at 136.99 and subsequent sideways swings would yield consolidation before prospect of another fall, below 134.75 would head towards 134.53 but 134.27 should hold.

On the upside, only a daily close above 135.66 would signal aforesaid pullback over and risk gain to 135.88/98.

Data to be released on Tuesday :
France industrial output, SnP global services PMI, Italy SnP global services PMI, Germany SnP global services PMI, EU SnP global services PMI, UK SnP global services PMI.
Canada building permits, US durables ex-defense, durable goods, factory orders and durables ex-transport.

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

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

USD/JPY - 135.26
Dollar's early selloff from last Wed's fresh 24-year peak at 136.99 in tandem with U.S. yields to 134.75 (Fri) signals a temporary top has been made, despite staging a strong rise to as high as 136.36 yesterday on broad-based safe-haven buying in usd, intra-day firm break of 135.53 would yield re-test of 134.75, below, 134.53, 134.27.

On the upside, only a daily close above 135.89 would prolong choppy swings and risk another rise to 136.26/36 later.

Data to be released on Wednesday:
Germany industrial orders, U.K. SnP construction PMI, labor productivity, EU retail sales.
U.S. mortgage application, redbook, SnP global services PMI, ISM non-manufacturing PMI, JOLTS job opening.

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

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

USD/JPY - 136.09
Despite dollar's sharp fall from last Wed's fresh 24-year peak at 136.99 to as low as 134.75 Fri in tandem with US yields, subsequent strong rebound to 136.36 Tue and yesterday's bounce to 136.00 suggests consolidation with upside bias remains and above 136.36 would yield re-test of said res, break, 136.70/80 later.

On the downside, only a daily close below 135.26 would prolong choppy swings and risk weakness towards 134.96, 134.75.

Data to be released on Thursday:
Swiss unemployment rate, U.K. Halifax house price, Germany industrial output.
U.S. ADP employment rate, international trade balance, goods trade balance, initial jobless claims, continuing jobless claims, Canada trade balance, exports, imports and Ivey PMI.

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

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

USD/JPY - 135.77
Although dollar's sharp decline from last Wed's fresh 24-year peak at 136.99 in tandem with US yields to 134.75 last Friday suggests long term uptrend has made a temporary top there, subsequent bounce to 136.36 Tue signals pullback possibly over and above 136.36 would yield stronger gain to 136.70/80.

On the downside, only a daily close below 134.96 would bring weakness towards 134.75 but 134.27 should contain downside.

Data to be released on Friday:
US non-farm payrolls, private payrolls, unemployment rate, average weekly earnings, wholesale inventories, wholesale sales, Canada employment change and unemployment rate.

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

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

USD/JPY - 136.84
Dollar's intra-day rally above Jun's fresh 24-year high at 136.99 in Asia on dovish comments from BOJ's Kuroda suggests long term has once again resumed and further gain towards 137.50 would be seen after consolidation but 137.90/00 should cap upside.

On the downside, only a daily close below 136.56 would indicate a temporary top is in place and risk stronger retracement to 135.88/98.

Data to be released later:
Italy retail sales.
Canada leading index on Monday.

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

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

USD/JPY - 137.22
Dollar's rally above previous 136.99 daily resistance to a fresh 24-year peak at 137.75 in New York Monday on broad-based safe-haven usd buying suggests long term uptrend has once again resumed and further gain to 138.15 would be seen but reckon 138.45/55 should remain intact and yield correction later.

On the downside, only a daily close below 136.99 would indicate a temporary top is in place and risk stronger retracement towards 136.56.

Data to be released on Tuesday:
U.K. BRC retail sales, Japan producer prices, New Zealand NAB business conditions, NAB business confidence, Germany ZEW economic confidence, ZEW current conditions, EU ZEW survey expectation and US redbook.

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

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

USD/JPY - 137.09
Dollar's selloff from 137.52 to as low as 136.49 in New York yesterday on broad-based retreat in usd suggests recent erratic upmove has made a temporary top at Mon's fresh 24-year peak at 137.75 and intra-day rebound would yield further range trading , above 137.52 needed for stronger gain towards 137.75.

On the downside, only a daily close below 136.70 would risk stronger retracement towards 136.49, break, 136.25.

Data to be released on Wednesday:
U.K. GDP, trade balance, industrial output, manufacturing output, construction output, Germany CPI, HICP, France CPI, EU industrial production.
U.S. MBA mortgage application, CPI, Federal budget and Canada BOC interest rate decision.

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

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

USD/JPY - 139.25
Dollar's rally above 137.75 resistance to a fresh 24-year high at 137.86 Wed on release of red hot US CPI and then intra-day firm break there on active selling in yen suggests upside bias remains for further gain to 138.90/00, however, overbought condition should cap price below 139.19 and yield a much-needed correction later.

On the downside, only a daily close below 137.75 would indicate a temporary top is in place and risk stronger retracement towards 137.44.

Data to be released on Thursday:
U.K. RICS housing price balance, Australia employment change, unemployment rate, Japan industrial output, capacity utilization, Swiss producer/import prices, France Market Holiday.
U.S. initial jobless claims, continuing jobless claims, PPI and Canada manufacturing sales.

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