AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

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

USD/JPY - 136.98
Although dollar's upmove from August's 130.41 low to 137.71 Tuesday suggests correction from July's 24-year peak at 139.39 has ended, subsequent brief but sharp re-treat to 135.82 the same day and subsequent choppy swings would continue before prospect of another rise, above 137.24 (Wednesday top), 137.60/70.

On the downside, only a daily close below 136.18 may risk weakness to 135.82/85.

Data to be released on Friday:
Germany Gfk consumer confidence, France consumer confidence, Italy business confidence, consumer confidence.
U.S. personal spending, personal income, PCE prices index, goods trade balance wholesale inventories, University of Michigan

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

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

USD/JPY - 138.82
As dollar's daily wild swings from last Tuesday's 1-month high of 137.71 has finally ended on Friday with price initially spiking down to 136.31 Friday after hawkish comments by Fed's Powell and subsequent gain to 137.74, then intra-day rally would head towards July's 24-year 139.39 peak, above 139.39 would extend towards 140.00.

On the downside, only a daily close below 138.09 would risk stronger retracement to 137.71/74.

Data to be released later:
U.K. market holiday and U.S. Dallas Fed manufacturing business index on Monday.

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

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

USD/JPY - 138.21
As dollar's daily wild swings from last Tuesday's 1-month high of 137.71 finally ended on Friday with price jumping from 136.21 to 137.74, then yesterday's impressive rise to 139.00, re-test of July's 24-year peak at 139.39 is envisaged after consolidation but break needed to extend to 139.65/75 later.

On the downside, only a daily close below 137.70/75 may confirm a temporary top made and risk retracement to 137.71/74.

Data to be released on Tuesday:
Germany import prices, CPI, Swiss KOF indicators, Italy industrial sales, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence.
Canada current account, U.S. redbook, monthly home price, consumer confidence and JOLTUS jobs openings.

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

DAILY MARKET OUTLOOK on Major
Update Time: 31 Aug 2022 09:30GMT

USD/JPY - 138.59
Dollar's marginal break above Monday's 6-week 139.00 top to 139.06 in New York yesterday due to renewed usd's strength
and cross-selling in yen after intra-day retreat to 138.06 suggests re-test of July's 24-year peak at 139.39 would be seen after consolidation but reckon 140.00 should hold.

On the downside, only a daily close below 138.06 would risk stronger retracement of recent rise to 137.71/74.

Data to be released on Wednesday:
U.K. BRC shop price index, nationwide house price, France consumer spending, GDP, CPI, producer prices, Germany unemployment change, unemployment rate, Swiss investor sentiment, EU HICP, Italy CPI, producer prices.
U.S. MBA mortgage application, ADP employment change, Chicago PMI and Canada GDP.

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AceTraderFx Sept 01: Daily Recommendations on Major –USD/JPY

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

USD/JPY - 139.17
Dollar's intra-day break of Jul's fresh 24-year top of 139.39 to 139.67 following Wednesday's rally in tandem with U.S. yields suggests uptrend has once again resumed and further gain towards psychological 140.00 handle can't be ruled out but a daily close above there needed to head towards 140.65 later.

On the downside, only a daily close below 139.00/06 may indicate a temporary top is made and risk stronger retracement to 138.62/67.

Data to be released on Thursday:
Germany retail sales, S n P manufacturing PMI, Swiss CPI, retail sales, manufacturing PMI, Italy S n P manufacturing PMI, unemployment rate, GDP, France S n P manufacturing PMI, EU S n P manufacturing PMI, employment change, U.K. S n P manufacturing PMI.
U.S. initial jobless claims, continuing jobless claims, labor costs, productivity, S n P manufacturing PMI, construction spending, USM manufacturing PMI, Canada building permits and S n P manufacturing PMI.

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

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

USD/JPY - 140.30
Dollar's rally above July's fresh 24-year 139.39 top in tandem with U.S. yields to 139.67 in Europe, then gain to 140.22 after upbeat U.S. data and intra-day break there on continued yen weakness suggests price would head to 140.65, reckon 141.10/15 would cap upside and yield minor retracement later.

On the downside, only a daily close below below 139.88 would indicate a temporary trough made and risk stronger retracement towards 139.67, break, 139.34/39.

Data to be released on Friday:
Germany exports, imports, trade balance, current account, Swiss non-farm payrolls, France budget balance, EU producer prices.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, durables ex-defense, durable goods, factory orders, durables ex-transport and Canada labor productivity rate.

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

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

USD/JPY - 140.52
Although dollar's retreat to 139.93 in tandem with US yields in post-NFP New York Friday after a brief jump to a fresh 24-year peak of 140.79 suggests choppy trading is in store, as long as Friday's Asian 139.88 low holds, upside bias remains for marginal gain towards 140.90 but 141.10/15 may hold.

On the downside, only a daily close below 139.88/93 would indicate a temporary top made and risk stronger retracement towards 139.67, break, 139.39.

Data to be released later:
Swiss GDP, Italy S n P global services PMI, France S n P global services PMI, Germany S n P global services PMI, EU S n P global services PMI, Sentix index, retail sales, U.K. S n P global services PMI.
U.S. market holiday and Canada market holiday on Monday.

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

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

USD/JPY - 141.70
Dollar's intra-day intra-day cross-led rally in tandem with U.S. yields and then break of Fri's 24-year peak at 140.79 suggests recent uptrend remains in progress, however, 'loss of momentum' should prevent strong gain and reckon projected resistance at 142.14 would cap upside today.

On the downside, only below 140.79 would indicate a temporary top is in place and risk stronger retracement towards 140.26 (Asian low) , break, 139.93/98.

Data to be released on Tuesday :
U.K. retail sales, Germany industrial orders, U.K. S n P construction PMI.
U.S. S n P global services PMI, ISM non-manufacturing PMI and New Zealand GDT price index.

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

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

USD/JPY - 144.05
Dollar's impressive rally yesterday above Fri's 24-year peak at 140.79 in tandem with U.S. yields and active selling in yen to 143.07 in New York and intra-day break there suggests recent uptrend would head to 144.50 after choppy trading, however, overbought condition would cap price below 'psychological' 145.00 handle today.

On the downside, only a daily close below 143.07 would indicate a temporary top is in place and risk stronger retracement to 142.70/75.

Data to be released on Wednesday:
Germany industrial output, U.K. industrial output, Italy retail sales, EU employment change, GDP.
U.S. MBA mortgage application, international trade balance, redbook, goods trade balance, Canada exports, imports, trade balance, BOC rate decision and Ivey PMI.

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

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

USD/JPY - 143.72
Despite resumption of recent impressive gain to a fresh 24-year peak of 144.98 ahead of New York open Wednesday, subsequent fall to 143.68 on broad-based profit taking in usd signals choppy swings are seen before another rise next week and above 144.98/00 would extend towards 145.48.

On the downside, only a daily close below 143.07 would risk stronger retracement towards 142.71.

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