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AceTraderFx Jun 15: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 15 Jun 2022 09:30GMT
USD/JPY - 134.65
Despite dollar's intra-day rally above 135.22 (Monday) to a fresh 24-year high at 135.59 in Australia, subsequent retreat suggests choppy swings would be seen and a firm break below 134.80/85 is needed to signal a temporary top is in place and yield stronger retracement towards 134.36 but 134.02 should hold.
On the upside, only a daily close above 135.59 would revive bullishness for one more rise towards 135.99 before correction.
Data to be released on Wednesday:
Germany wholesale price index, Swiss producer/import price, France CPI, EU trade balance, industrial production.
U.S. MBA mortgage application, NY Fed manufacturing, import prices, export prices, retail sales, business inventories, NAHB housing market index, Fed interest rate decision and Canada housing starts.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update
Update Time: 15 Jun 2022 09:30GMT
USD/JPY - 134.65
Despite dollar's intra-day rally above 135.22 (Monday) to a fresh 24-year high at 135.59 in Australia, subsequent retreat suggests choppy swings would be seen and a firm break below 134.80/85 is needed to signal a temporary top is in place and yield stronger retracement towards 134.36 but 134.02 should hold.
On the upside, only a daily close above 135.59 would revive bullishness for one more rise towards 135.99 before correction.
Data to be released on Wednesday:
Germany wholesale price index, Swiss producer/import price, France CPI, EU trade balance, industrial production.
U.S. MBA mortgage application, NY Fed manufacturing, import prices, export prices, retail sales, business inventories, NAHB housing market index, Fed interest rate decision and Canada housing starts.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update