AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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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.

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

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

USD/JPY - 133.56
Dollar's selloff from 134.95 in post-FOMC New York to 133.51 suggests long term upmove has made a temporary top at Tuesday's fresh 24-year peak at 135.59 and despite subsequent rebound to 134.67 in Asia, present sharp retreat in Europe on safe haven buying in yen signals consolidation with downside bias remains but below 133.37 needed to yield stronger retracement towards 133.19, break, 132.99.

On the upside, only a daily close above 133.85/90 would revive bullishness for stronger gain towards 134.67, 134.95 later.

Data to be released on Thursday:
Swiss SNB interest rate decision, Italy CPI, EU labor costs, UK BOE interest rate decision, asset purchase program, BOE QE total, BoE QE Corp Bond Purchases, BOE MPC vote hike, BOE MOC vote unchanged, BOE MPC vote cut.
U.S. building permits, housing starts, initial jobless claims, continuing jobless claims, Philly Fed manufacturing index and Canada wholesale sales.

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AceTraderFx Jun 17: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 17 Jun 2022 09:30GMT

USD/JPY - 134.36
Although dollar's rally from 132.18 to as high as 134.63 after BOJ's dovish hold suggests correction from Wednesday's 24-year peak at 135.59 has ended yesterday at 131.50, however, subsequent spike down and volatile swings suggests further range trading is seen and above 134.63 would yield one more rise towards 135.22 but June's 24-year peak at 135.59 should hold.

On the downside, only a daily close below 132.71 would indicate recovery over and risk weakness to 132.18/28.

Data to be released on Friday:
Italy trade balance, EU HICP.
Canada producer prices, U.S. industrial production, capacity utilization, manufacturing output and leading index.

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AceTraderFx Jun 20: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 20 Jun 2022 09:30GMT

USD/JPY - 134.67
Despite dollar's rally from 132.7 to as high as 134.63 Fri on BOJ's unchanged rate decision and then rallied to 135.42 in New York on renewed usd's strength, intra-day retreat from 135.44 in Asia suggests minor consolidation is seen before re-test of last Wed's fresh 24-year peak at 135.59, break would extend towards projected target at 136.11 before retracement later.

On the downside, only a daily close below 134.28 would prolong choppy trading and risk weakness to 133.80/90.

Data to be released today:
Germany producer prices, EU construction output.
U.S. Market Holiday on Monday.

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

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

USD/JPY - 135.27
Dollar's rally from 132.17 to as high as 135.42 Friday on BOJ's unchanged rate decision, then to 135.44 Monday suggests upmove from 131.50 (Wednesday) would yield re-test of June's fresh 24-year peak at 135.59, break would extend towards projected target at 136.11 later before retracement occurs.

On the downside, only a daily close below 134.55 (Monday low) would risk weakness to 134.23/28 before prospect of rebound.

Data to be released on Tuesday :
U.K. Rightmove house price, CBI trends orders, Swiss exports, imports, trade balance, EU current account.
Canada new housing price index, retail sales, U.S. national activity index and existing home sales.

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

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

USD/JPY - 135.57
Dollar's intra-day selloff below 135.70 (Wednesday) on active buying in yen suggests long term uptrend has made a temporary top at yesterday's fresh 24-year peak at 136.71 and as 135.87 has capped recovery in Europe, consolidation with downside bias remains and below 135.14 would yield stronger retracement towards 134.93, break, 134.75/80.

On the upside, only above 135.87 would signal pullback possibly over and yield stronger gain towards 136.30 but 136.71 should remain intact.

Data to be released on Wednesday:
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index.
US mortgage application, redbook, Canada CPI and EU consumer confidence.

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AceTraderFx Jun 24: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 24 Jun 2022 09:30GMT

USD/JPY - 134.77
Although dollar's selloff to as long as 134.27 in New York Thur on safe-haven yen buying suggests recent erratic upmove has made a temporary top at Wed's fresh 24-yaer peak at 136.71, intra-day rebound from 134.36 in Europe signals consolidation with upside bias remains and above 135.22 (Asia) would yield stronger gain towards 135.87 later.

On the downside, only a daily close below 134.27 would risk one more fall towards 133.93.

Data to be released on Friday:
U.K. Gfk consumer confidence, retail sales, Japan nationwide CPI, Italy business confidence, trade balance, consumer confidence, Germany Ifo business climate, Ifo current conditions, Ifo expectations.
U.S. building permits, University of Michigan sentiment, new home sales on Friday and Canada average weekly earnings.

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AceTraderFx Jun 27: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 27 Jun 2022 09:30GMT

USD/JPY - 135.05
Although dollar's selloff to as low as 134.27 in New York Thursday on safe-haven yen buying suggests recent erratic upmove has made a temporary top at Wednesday's fresh 24-year peak at 136.71, Fri's rebound from 134.36 to 135.39 in New York and subsequent retreat would yield further choppy swings, below 134.27 would head to 133.88/93.

On the downside, only a daily close below 135.39 would suggest 1st leg of correction over and yield stronger gain towards 135.87.

Data to be released today:
U.S. durables goods, durables ex-transport, durables ex-defense, pending home sales and Dallas Fed manufacturing business on Monday.

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AceTraderFx Jun 28: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 28 Jun 2022 09:30GMT

USD/JPY - 135.70
Although dollar's selloff from last Wed's fresh 24-year peak at 136.71 to 134.27 Thursday on safe-haven yen buying suggests recent erratic upmove has made a temporary top there, subsequent strong rebound to 135.54 in New York Mon and intra-day break there suggests aforesaid pullback has possibly ended and consolidation with upside bias remains for 136.30, break, 136.71.

On the downside, only a daily close below 135.02 would dampen bullishness and risk weakness to 134.53/58, 134.27.

Data to be released later:
Germany Gfk consumer sentiment, France consumer confidence, Italy industrial sales.
U.S. goods trade balance, wholesale inventories, redbook, monthly home price, consumer confidence and Richmond Fed manufacturing.

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

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

USD/JPY - 136.15
Despite dollar's selloff from last Wednesday's fresh 24-year peak at 136.71 to as low as 134.27 Thur, subsequent strong rebound to 135.54 Monday and yesterday's break there to 136.38 in New York on renewed usd's strength suggests pullback has ended and re-test of said resistance would be seen, break would extend long term uptrend to 137.10/20.

On the downside, only a daily close below 135.80 would signal temporary top in place and risk weakness towards 135.54.

Data to be released on Wednesday:
U.K. BRC shop price index, Japan retail sales, consumer confidence, Australia retail sales, Swiss investor sentiment, EU business sentiment, economic sentiment, industrial sentiment, services sentiment, consumer confidence,
U.S. mortgage application, GDP and PCE prices

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