AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

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

USD/JPY - 132.81
Dollar's selloff partly in tandem with US yields and negative US GDP as well as market chatter of heavy unwinding of long usd positions to a 5-week 134.21 in New York yesterday, then intra-day sharp drop to 132.51 in European morning suggests decline from July's 24-year 139.39 peak may yield 132.35, 131.50.

On the upside, only a daily close above 133.71 would signal a temporary low is in place and stronger retracement to 134.10/20 would be seen next week.

Data to be released on Friday:
France consumer spending, GDP, Germany GDP, import prices, unemployment change, unemployment rate, UK nationwide house price, Swiss retail sales, KOF indicator, France CPI, Italy GDP, CPI, EU HICP.
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 Aug 01: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 01 Aug 2022 09:30GMT

USD/JPY - 132.44
Despite dollar's intra-day cross-inspired selloff from 133.56 in Australia and then brief break of Friday's 132.51 bottom to a fresh 7-week trough of 132.08, subsequent short covering rise to 132.75 in Asia would yield choppy trading before down, reckon 131.50 should contain downside and yield rebound.

On the downside, only a daily close above 132.75 would indicate a temporary bottom made and yield stronger retracement to 133.20/25, break, 133.51/56.

Data to be released today :
Germany retail sales, S&P manufacturing PMI, Swiss Market Holiday, France S&P manufacturing PMI, EU S&P manufacturing PMI, unemployment rate, Italy S&P manufacturing PMI, unemployment rate.
U.K. S&P manufacturing PMI, U.S. S&P manufacturing PMI, construction spending, ISM manufacturing PMI and Canada market holiday on Monday.

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AceTraderFx Aug 02: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 02 Aug 2022 09:30GMT

USD/JPY - 130.81
Despite dollar's initial resumption of recent fall from July's 24-year peak at 139.39 to a fresh 7-week trough of 130.41, intra-day rebound on usd's safe-haven bid due to US/China tension may head back to 131.60, reckon 132.00 would hold and yield another decline later.

On the downside, only a daily close below 130.41 would risk one more fall to 130.00/10.

Data to be released on Tuesday:
U.K. Nationwide house price, Swiss consumer confidence, manufacturing PMI.
U.S. redbook, JOLTS job openings, Canada S&P manufacturing PMI.

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

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

USD/JPY - 133.21
Despite dollar's resumption of recent decline from Jul's 24-year peak of 139.39 to a fresh 7-week trough of 130.41 (Asia) yesterday, subsequent rally in New York on hawkish comments from Fed officials to 133.89 in Asia signals 1st leg of correction possibly over and would head towards 134.44.

On the downside, only below 132.88 would indicate aforesaid recovery over and risk re-test of 132.29, break, 131.60/65.

Data to be released on Wednesday:
Germany exports, imports, trade balance, current account, S&P Global services PMI, Swiss CPI, France budget balance, S&P Global services PMI, Italy S&P Global services PMI, retail sales, EU S&P Global services PMI, producer prices, retail sales, UK S&P Global services PMI.
U.S. MBA mortgage application, S&P Global services PMI, durable goods, durable ex-defense, durable ex-transport, factory orders and ISM non-manufacturing PMI.

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

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

USD/JPY - 134.23
Despite resumption of recent decline from July's 24 -year peak of 139.39 to a fresh 7-week trough of 130.41 (Tuesday), subsequent rally in tandem with US yields to 134.54 in New York yesterday suggests low is made and above 134.54 would encourage for stronger retracement to 134.90.

On the downside, only a daily close below 132.35/40 may indicate aforesaid recovery over and risk stronger retracement to 132.88/91.

Data to be released on Thursday:
Germany industrial orders, U.K. S&P construction PMI, BOE interest rate decision, asset purchase program, BOE QE total, BOE QE corporate bond purchases, BOE MPC rate hike, BOE MPC rate unchanged, BOE MPC rate cut.
U.S. international trade balance, goods trade balance, initial jobless claims, continuing jobless claims, Canada building permits, trade balance, exports and imports.

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

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

USD/JPY - 133.28
Dollar's rally from Monday's fresh 7-week trough of 130.41 to 134.54 (Wednesday) signals recent fall from July's 24-year peak at 139.39 has made a low there and despite cross-inspired decline to 132.53 today, rebound to 133.47 ahead of European open and present retreat would yield choppy sideways swings, below 133.00/05 may head back towards 132.53, then 132.29.

On the upside, a daily close above 133.47 would revive bullishness for stronger gain towards 133.79, break, 134.30/40 later.

Data to be released on Friday:
UK Halifax housing prices, France current account, trade balance, industrial output, imports, exports, non-farm payrolls, Italy industrial output.
U.S. non-farm payrolls, private payrolls, unemployment rate, average weekly earnings, Canada employment change, unemployment rate and Ivey PMI.

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

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

USD/JPY - 135.11
Dollar's jump on robust U.S. NFP Friday and then break of 134.54 (Wed top) to 135.49 in New York signals correction from July's 24-year peak at 139.39 has possibly ended at 130.41 (Tuesday) and further gain to 135.75 is envisaged, reckon 135.96 should cap upside and yield correction.

On the downside, only a daily close below 134.54 would dampen daily bullishness and risk stronger retracement towards 134.17, break, 133.89/94

Data to be released today :
Swiss unemployment and EU Sentix index on Monday.

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

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

USD/JPY - 134.88
Dollar's jump on blowout U.S. NFP Friday to 135.49, then to 135.57 Monday signals correction from July's 24-year peak at 139.39 has possibly ended at 130.41 (Tuesday), despite retreat to 134.37 in New York in tandem with U.S. yields, subsequent rebound has retained upside bias, above 135.57 would yield stronger gain to 135.85/95.

On the downside, only a daily close below 134.37 would risk retracement to 134.00/05.

Data to be released on Tuesday:
U.K. BRC retail sales.
U.S. labor costs, productivity and redbook retail sales.

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

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

USD/JPY - 134.99
Dollar's rally from August's 7-week trough of 130.41 to 135.57 Monday signals correction from July's 24-year peak at 139.39 has possibly ended and as 134.37 has contained retreat, upside bias remains but above 135.57 is needed to extend gain towards 135.96

On the downside, only a daily close below 134.37 would risk weakness to 134.00/05 later.

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

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

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

USD/JPY - 132.57
Although dollar's impressive rise from August's 7-week trough at 130.41 to as high as 135.57 (Mon) signals correction from July's 24-year 139.39 peak has ended, yesterday's selloff below 134.37 support to 132.04 on soft US yields signals choppy swings may continue and below 132.62 would head towards 132.04 later.

On the upside, only a daily close above 133.47 would suggest temporary low and risk stronger gain to 133.80/90.

Data to be released on Thursday:
U.K. RICS housing price balance, Japan market holiday, Australia consumer inflation experience, U.S. initial jobless claims, continuing jobless claims and PPI.

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