AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

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

USD/JPY - 142.17
Despite dollar's resumption of uptrend to a fresh 24-year peak of 144.98 (Wednesday), subsequent retreat to 143.33, then intra-day selloff below there to 142.47 on active yen buying due to warning by BOJ's Kuroda on rapid yen rise signals a temporary top is made and may head towards 141.85.

On the upside, only a daily close above 143.33 would signal 1st leg of correction over and head back to 143.72.

Data to be released on Friday:
France industrial output, U.K. consumer inflation.
Canada capacity utilization, employment change, unemployment rate, U.S. wholesale inventories and wholesale sales.

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

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

USD/JPY - 142.32
Although dollar's erratic rise from 141.51 on Friday to 143.49 (Europe) yesterday signals 1st leg of correction from Wednesday's fresh 24-year peak at 144.98 has ended, subsequent retreat to 142.17 in New York on renewed usd's weakness would bring 'choppy' sideways swings and below 142.15 (Mon low) would head back towards 141.51, break, 140.79.

On the upside, a daily close above 143.00 would revive bullishness for stronger gain towards 143.49.

Data to be released on Tuesday:
Germany CPI, U.K. claimant count, ILO unemployment rate, employment change, average weekly earnings, Swiss producer/import price, EU ZEW survey expectations, ZEW economic sentiment, ZEW current conditions.
U.S. CPI, redbook and Federal budget.


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

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

USD/JPY - 143.04
As dollar's daily wild swings after early strong pullback from last Wednesday's fresh 24-year 144.98 peak to 141.51 (Friday) had ended yesterday with price 'jumping' in tandem with US yields from 141.67 to 144.68 after red hot US core CPI, above 144.98 would head to 145.31, break would extend towards 145.79.

Intra-day retreat from 144.95 (AUS) on Japan officials' yen warning would bring choppy swings and below 143.49, 142.85.

Data to be released on Wednesday:
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index, EU industrial production.
U.S. MBA mortgage application, PPI and manufacturing sales.

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AceTraderFx Sept 15: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 15 Sept 2022 09:30GMT

USD/JPY - 143.56
Despite dollar's rise from 141.51 (Fri) to 144.95 in Australia yesterday, subsequent selloff due to yen intervention warnings by several Japanese officials signals 'choppy' swings below Sep's 24-year 144.98 peak would continue but 141.51 sup should hold and yield rebound, above 144.00/10 would head to 144.45/55.

On the downside, only a daily close below 143.00 would risk stronger retracement towards 142.56.

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

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

USD/JPY - 143.3
Despite dollar's rise from 141.51 last Friday to 144.95 (Wednesday), subsequent sharp selloff on yen intervention warnings by several Japanese officials signals volatile trading below September's 24-year peak at 144.98 would continue but 141.51 sup should hold and yield rebound, above 143.80 (Thursday top) would head towards 144.55.

On the downside, only a daily close below 142.84 would risk stronger retracement towards 142.56.

Data to be released on Friday:
Italy trade balance, EU HICP, Italy CPI, Canada wholesale trade.
U.S. University of Michigan sentiment.

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

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

USD/JPY - 143.44
Although dollar's rebound to 144.95 last Wednesday suggests pullback from September's 24-year peak at 144.98 has ended, subsequent selloff to 142.56 the same day on yen intervention warnings by Japan officials and daily sideways swings would yield further consolidation before up and above 143.80 would head to 144.45/55.

On the downside, only a daily close below 142.56 would risk stronger retracement to 142.05/15.

Data to be released later:
U.K. market holiday, Japan market holiday, EU construction output.
Canada producer prices and U.S. NAHB housing market index on Monday.

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

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

USD/JPY - 143.76
Although dollar's rebound to 144.95 last Wednesday suggests pullback from September's 24-year peak at 144.98 has ended, subsequent selloff to 142.56 the same day on yen intervention warnings by Japan officials and daily sideways swings would yield further consolidation and above 144.07 (Europe) may head to 144.55 but 144.95 should hold.

On the downside, only a daily close below 143.48 would risk stronger retracement to 142.95/00

Data to be released on Wednesday:
U.K. PSNB, PSNCR, CBI trends orders.
U.S. MBA mortgage application, existing home sales and Fed interest rate decision.

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

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

USD/JPY - 142.09
Despite dollar's intra-day jump to a fresh 24-year high of 145.40 (EBS) after BoJ's dovish hold and later to 145.89 in European morning, subsequent sharp fall on Japan intervention on yen suggests recent erratic upmove has made a temporary top there, reckon 140.60/70 should contain downside and yield correction later due to oversold condition.

Stand aside and look to buy on dips as above 142.50/60 would indicate temporary bottom made and yield stronger gain towards 142.95 later.

Data to be released on Thursday:
France business climate, Swiss SNB interest rate decision, U.K. BOE interest rate decision, BOE MPC vote hike, BOE MPC vote unchanged, BOE MPC vote cut.
U.S. initial jobless claims, continuing jobless claims, leading index change, KC Fed manufacturing PMI, Canada new housing price index and EU consumer confidence.

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AceTraderFx Sept 23: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 23 Sept 2022 09:30GMT

USD/JPY - 142.40
Despite dollar's brief gain to a fresh 24-year peak of 145.89 after BoJ's dovish hold Thur, subsequent selloff to 140.36 on BoJ's 'unilateral' yen buying intervention signals temporary top made, rebound to 142.50 in New York signals 1st leg of correction is over and further gain towards 143.08 would be seen but 143.78 should hold.

On the downside, only a daily close below 141.77 would risk weakness to 141.15/20.

Data to be released on Friday:
France S n P manufacturing PMI, S n P global services PMI, Germany S n P manufacturing PMI, S n P global services PMI, EU S n P manufacturing PMI, S n P global services PMI, U.K. S n P manufacturing PMI, S n P global services PMI, CBI distributive trades.
Canada retail sales, U.S. S n P manufacturing PMI and S n P global services PMI.

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

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

USD/JPY - 143.67
Despite dollar's brief gain to a fresh 24-year peak of 145.89 after BoJ's dovish hold last Thursday, subsequent selloff to 140.36 on BoJ's 'unilateral' yen buying intervention suggests a temporary top is made, Friday's gain to 143.46 in New York signals 1st leg of correction over.

Intra-day retreat from 144.26 signals top possibly made and below 143.68 would yield further weakness towards 142.85 whilst above 144.25, 144.40/50 later.

Data to be released later :
Germany Ifo business cliamte, Ifo current conditions, Ifo expectations, U.S. national activity index and Dallas Fed manufacturing business index on Monday.

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