AceTraderFx Mar 17: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 17 Mar 2022 09:30GMT
USD/JPY - 118.75
Although the greenback’s retreat after yesterday’s brief spike to a fresh 5-year peak at 119.12 in tandem with U.S. yields on expected Fed’s rate hike signals consolidation is in store, reckon 118.40/45 would hold and yield another rise later, above said resistance would extend to 119.25 but 119.35/45 should hold.
On the downside, only a daily close below 118.18 would indicate a temporary top is made and risk stronger retracement to 117.90/00.
Data to be released on Thursday:
Swiss exports, imports, trade balance, EU HICP, U.K. BoE interest rate decision, asset purchase program, BoE QE total, BoE QE Corp bond purchases, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPC vote cut.
U.S. Philly Fed manufacturing index, initial jobless claims, continuing jobless claims, housing starts, building permits, industrial production, capacity utilization and manufacturing output.
AceTraderFx Mar 18: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 18 Mar 2022 09:30GMT
USD/JPY - 118.89
Although the greenback’s retreat from Wed’s fresh 5-year peak at 119.12 to 128.37 in New York yesterday on broad-based usd’s weakness due to return of risk sentiment signals recent erratic upmove has made a temporary top there, intra-day rebound from 118.48 in Asia suggests consolidation with upside bias remains for re-test of said resistance, break would extend said rise to 119.25/35.
On the downside, only a daily close below 118.37 would risk stronger retracement towards 118.18, break, 117.71/75.
Data to be released on Friday:
Italy trade balance, EU labour costs, trade balance, Canada retail sales, new housing price index, U.S. leading index change and existing home sales.
AceTraderFx Mar 21: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 21 Mar 2022 09:30GMT
USD/JPY - 119.21
Dollar’s rally above last Wed’s 119.12 high to a 6-year peak at 119.39 in New York Friday on renewed usd’s strength suggests recent erratic upmove would extend to 119.85 after consolidation, however, loss of momentum should cap price below 'psychological ’ 120.00 handle and yield minor correction.
On the downside, only a daily close below 118.76 may signal a temporary top is in place and risk has increased for stronger retracement to 118.37/40 later.
Data to be released today:
U.K. Rightmove house price, Germany producer prices.
U.S. national activity on Monday.
AceTraderFx Mar 22: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 22 Mar 2022 09:30GMT
USD/JPY - 120.62
Dollar’s rally above last Wednesday’s 119.12 high to a 6-year peak at 119.39 in New York Fri on renewed usd’s strength suggests recent erratic upmove would extend to 119.85 after consolidation, however, loss of momentum should cap price below 'psychological ’ 120.00 handle and yield minor correction.
On the downside, only a daily close below 118.76 may signal a temporary top is in place and risk has increased for stronger retracement to 118.37/40 later.
Data to be released on Tuesday:
Australia Westpac consumer survey, EU current account, construction output.
U.K. PSNCR, PSNB.
Canada producer prices, U.S. redbook and Richmond Fed manufacturing.
AceTraderFx Mar 23: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time**: 23 Mar** 2022 09:30GMT
USD/JPY - 120.94
Dollar’s rally above last Wed’s 119.12 high to a 6-year peak at 119.39 in New York Fri on renewed usd’s strength suggests recent erratic upmove would extend to 119.85 after consolidation, however, loss of momentum should cap price below 'psychological ’ 120.00 handle and yield minor correction.
On the downside, only a daily close below 118.76 may signal a temporary top is in place and risk has increased for stronger retracement to 118.37/40 later.
Data to be released on Wednesday:
U.K. PPI output prices, input prices, RPI, CPI, DCLG house price index.
U.S. MBA mortgage application, building permits, new home sales and EU consumer confidence.
AceTraderFx Mar 24: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time**: 24 Mar** 2022 09:30GMT
USD/JPY - 121.51
The greenback’s intra-day firm break above yesterday’s fresh 6-year peak at 121.41 suggests Medium Term upmove remains in progress and further gain towards 122.00/10 would be seen after minor consolidation, however, loss of momentum would keep price below 122.40/50 and bring a much-needed correction later tomorrow or early next week.
On the downside, only below 120.60 would indicate a temporary top has been made and risk stronger retracement towards 120.20/30.
Data to be released on Thursday:
France business climate, Markit services PMI, Markit manufacturing PMI, Germany Markit services PMI, Markit manufacturing PMI, Swiss SNB interest rate decision, EU Markit services PMI, Markit manufacturing PMI, U.K. Markit services PMI, Markit manufacturing PMI.
U.S. continuing jobless claims, initial jobless claims, PCE prices, GDP, durables ex-defense, durables ex-transport, durable goods, current account, Markit services PMI, Markit manufacturing PMI and KC Fed manufacturing.
AceTraderFx Mar 25: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 25 Mar 2022 09:30GMT
USD/JPY - 121.60
The greenback’s intra-day firm break above yesterday’s fresh 6-year peak at 121.41 suggests Medium Term upmove remains in progress and further gain towards 122.00/10 would be seen after minor consolidation, however, loss of momentum would keep price below 122.40/50 and bring a much-needed correction later tomorrow or early next week.
On the downside, only below 120.60 would indicate a temporary top has been made and risk stronger retracement towards 120.20/30.
Data to be released on Friday :
U.K. Gfk consumer confidence, retail sales, Italy trade balance, business confidence, consumer confidence, Germany Ifo expectations, Ifo current conditions, Ifo business climate.
U.S. pending home sales, University of Michigan sentiment and Canada budget balance.
AceTraderFx Mar 28: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 28 Mar 2022 09:30GMT
USD/JPY - 123.94
The greenback’s intra-day rally above Friday’s fresh 6-year peak at 122.43 on BoJ’s monetary easing suggests Medium Term upmove remains in progress and further gain towards 122.00/10 would be seen after minor consolidation, however, loss of momentum would keep price below 122.40/50 and bring a much-needed correction later tomorrow or early next week.
On the downside, only below 120.60 would indicate a temporary top has been made and risk stronger retracement towards 120.20/30.
Data to be released today:
U.S. wholesale inventories, goods trade balance and Dallas Fed manufacturing business index on Monday.
AceTraderFx Mar 29: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 29 Mar 2022 09:30GMT
USD/JPY - 123.65
The greenback’s intra-day rally above Friday’s fresh 6-year peak at 122.43 on BoJ’s monetary easing suggests Medium Term upmove remains in progress and further gain towards 122.00/10 would be seen after minor consolidation, however, loss of momentum would keep price below 122.40/50 and bring a much-needed correction later tomorrow or early next week.
On the downside, only below 120.60 would indicate a temporary top has been made and risk stronger retracement towards 120.20/30.
Data to be released today:
Germany import prices, Gfk consumer sentiment.
Canada average weekly earnings, U.S. redbook, monthly home price, JOLTS jobs openings and consumer confidence on Tuesday.
AceTraderFx Mar 30: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 30 Mar 2022 09:30GMT
USD/JPY - 121.79
The greenback’s intra-day rally above Friday’s fresh 6-year peak at 122.43 on BoJ’s monetary easing suggests Medium Term upmove remains in progress and further gain towards 122.00/10 would be seen after minor consolidation, however, loss of momentum would keep price below 122.40/50 and bring a much-needed correction later tomorrow or early next week.
On the downside, only below 120.60 would indicate a temporary top has been made and risk stronger retracement towards 120.20/30.
Data to be released on Wednesday:
U.K. BRC shop price index, Japan retail sales, Swiss KOF indicator, investor sentiment, Italy industrial sales, producer prices, EU consumer confidence, services sentiment, industrial sentiment, economic sentiment, business climate.
U.S. MBA Mortgage application, PCE prices, GDP, Germany HICP and CPI.
AceTraderFx Mar 31: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 31 Mar 2022 09:30GMT
USD/JPY - 121.97
The greenback’s intra-day rally above Friday’s fresh 6-year peak at 122.43 on BoJ’s monetary easing suggests Medium Term upmove remains in progress and further gain towards 122.00/10 would be seen after minor consolidation, however, loss of momentum would keep price below 122.40/50 and bring a much-needed correction later tomorrow or early next week.
On the downside, only below 120.60 would indicate a temporary top has been made and risk stronger retracement towards 120.20/30.
Data to be released on Thursday:
U.K. nationwide house price, Swiss retail sales, France producer prices, CPI, consumer spending, Germany retail sales, unemployment rate, unemployment change, Italy CPI, unemployment rate, EU unemployment rate.
U.S. continuing jobless claims, initial jobless claims, PCE price index, personal spending, personal income, Chicago PMI and Canada GDP.
AceTraderFx Apr 01: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 01 Apr 2022 09:30GMT
USD/JPY - 122.54
The greenback’s intra-day rally above Friday’s fresh 6-year peak at 122.43 on BoJ’s monetary easing suggests Medium Term upmove remains in progress and further gain towards 122.00/10 would be seen after minor consolidation, however, loss of momentum would keep price below 122.40/50 and bring a much-needed correction later tomorrow or early next week.
On the downside, only below 120.60 would indicate a temporary top has been made and risk stronger retracement towards 120.20/30.
Data to be released on Friday:
Swiss CPI, manufacturing PMI, France budget balance, Markit manufacturing PMI, Italy Markit manufacturing PMI, Germany Markit manufacturing PMI, EU Markit manufacturing PMI, HICP, U.K. Markit manufacturing PMI.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, Markit manufacturing PMI, ISM manufacturing PMI, construction spending and Canada Markit manufacturing PMI.
AceTraderFx Apr 04: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 04 Apr 2022 09:30GMT
USD/JPY - 122.63
Dollar’s rally from 131.29 (Thursday) to as high as 123.03 in post-FOMC New York last Friday in tandem with U.S. yields and yen weakness suggests 1st leg of correction from March’s near 7-year peak at 135.10 has possibly ended there and consolidation with upside bias remains for 123.25/30 but 123.64 would cap upside.
On the downside, only a daily close below 122.22/25 would risk stronger retracement to 121.85/95.
Data to be released today:
Germany current account, trade balance, imports, exports.
EU Sentix index, Canada building permits.
U.S. durables ex-transport, factory orders, durable goods and durables ex-defense on Monday.
AceTraderFx Apr 06: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 06 Apr 2022 09:30GMT
USD/JPY - 123.91
Dollar’s rally above last Fri’s 123.03 top (now support) to 123.66 in New York Tuesday in tandem with US yields after hawkish comments by Fed’s Brainard, then intra-day break there suggests pullback from March’s near 7-year peak at 125.10 has ended and further gain towards 124.30, then 124.70 would be seen later.
On the downside, only a daily close below 123.54 would risk stronger retracement towards 123.20, break, 123.00/05.
Data to be released on Wednesday:
Germany industrial orders, U.K. Markit construction PMI, EU producer prices.
U.S. MBA mortgage application and Canada Ivey PMI.
AceTraderFx Apr 07: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 07 Apr 2022 09:30GMT
USD/JPY - 123.68
Although dollar’s rally from last Thursday’s bottom at 121.29 to as high as 124.05 Wednesday in tandem with U.S. yields suggests correction from March’s near 7-year peak at 125.10 has possibly ended, subsequent retreat to 123.47 in New York yesterday would yield choppy sideways swings, reckon 123.20 would hold and yield rebound, above 124.05 would head to 124.30/40.
On the downside, only a daily close below 123.03 would risk stronger retracement towards 122.70, break, 122.38/43.
Data to be released on Thursday:
Swiss unemployment rate, Germany industrial output, U.K. Halifax house price, EU retail sales.
U.S. continuing jobless claims and initial jobless claims.
AceTraderFx Apr 08: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 08 Apr 2022 09:30GMT
USD/JPY - 124.06
Dollar’s rally from last Thur’s bottom at 121.29 to as high as 124.23 in Australia today on continued usd’s strength due to rally in U.S. yields suggests early correction from Mar’s near 7-year peak at 125.10 has possibly ended and as 123.68 (Asia) has contained subsequent retreat, consolidation with upside bias remains for 124.30/40 but 124.70 should hold.
On the downside, only a daily close below 123.47 would signal a temporary top is in place and risk stronger retracement towards 123.03.
Data to be released on Friday:
Japan current account, trade balance, consumer confidence, Eco watchers current, Eco watchers outlook.
Italy retail sales.
Canada unemployment rate, employment change, U.S. wholesale sales and wholesale inventories.
AceTraderFx Apr 11: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 11 Apr 2022 09:30GMT
USD/JPY - 125.21
Dollar’s present retreat in tandem with U.S. yields after intra-day rally above Mar’s near 7-year 125.10 peak to 125.43 at European open on active selling in yen suggests minor consolidation is in store before long term upmove resumes and heads towards 125.70 but 2015 top at 125.86 should cap upside today.
On the downside, only a daily close below 124.67 signals a temporary top is in place and risks stronger retracement to 124.28, break, 124.04 later.
Data to be released today:
U.K. construction output, manufacturing output, industrial output, GDP, trade balance.
Canada leading index on Monday.
AceTraderFx Apr 12: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 12 Apr 2022 09:30GMT
USD/JPY - 125.56
Although dollar’s retreat after yesterday’s rally to a near 7-year peak at 125.77 in New York in tandem with U.S. yields signals consolidation is in store, intra-day rebound from 125.12 in Asia suggests pullback has ended and upside bias remains for re-test of said resistance, break would yield re-test of 2015 peak at 125.86 but 126.44 should cap upside.
On the downside, only a daily close below 125.00/10 would risk stronger retracement towards 124.67 later.
Data to be released on Tuesday:
U.K. BRC retail sales, average weekly earnings, employment change, ILO unemployment rate, claimant count,
Germany HICP, CPI, ZEW current conditions, ZEW economic sentiment, France exports, imports, trade balance, current account, EU ZEW survey expectation.
U.S. CPI, redbook and Federal budget.
AceTraderFx Apr 13: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 13 Apr 2022 09:30GMT
USD/JPY - 126.03
Dollar’s resumption of recent uptrend to a near 7-year peak at 125.77 in New York Mon on broad-based usd’s strength due to rally in U.S. yields, then intra-day firm break of 2015 high of 125.86 on active selling in yen in European morning suggests further gain towards 126.40/45 is envisaged before a much-needed correction occurs due to over-bought condition.
On the downside, only a daily close below 125.75/77 would indicate a temporary top is made and risk stronger retracement to 125.10/15 but 124.78 should hold.
Data to be released on Wednesday:
U.K. PPI output prices, PPI input prices, RPI, CPI, DCLG house price, Italy industrial output.
U.S. MBA mortgage application, PPI and Canada interest decision.
AceTraderFx Apr 14: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 14 Apr 2022 09:30GMT
USD/JPY - 125.36
Despite dollar’s resumption of uptrend to a near 20-year peak at 126.31 in Europe Wed, subsequent retreat to 125.09 in Europe today on active yen buying signals a temporary top is made and consolidation is in store, reckon 125.05/10 would hold and yield prospect of another rebound, above 125.75/80 would bring re-test of 126.31.
On the downside, only a daily close below 124.78 would risk stronger retracement to 124.35/40.
Data to be released on Thursday :
U.K. RICS housing price balance, Germany wholesale price index, Swiss producer/import price, EU ECB deposit rate, ECB refinancing rate.
U.S. retail sales, continuing jobless claims, initial jobless claims, imports prices, export prices, University of Michigan sentiment, business inventories, Canada wholesale trade and manufacturing sales.
DAILY MARKET OUTLOOK on Major