AceTraderFx Apr 19: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 19 Apr 2022 09:30GMT
USD/JPY - 128.45
Dollar’s impressive rally from 126.97 (AUS) to a fresh near 20-year peak of 128.32 at European open, then present break there on active selling in yen suggests recent uptrend would head to 128.35 after consolidation, however, overbought condition is likely head to cap price below 128.65/70 and yield a much-needed correction later.
On the downside, only a daily close below 127.22/27 would indicate a temporary top is in place and risk stronger retracement towards 126.79.
Data to be released on Tuesday :
Canada housing starts, U.S. housing starts, building permits and redbook.
AceTraderFx Apr 20: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 20 Apr 2022 09:30GMT
USD/JPY - 128.66
Despite dollar’s intra-day rally above 128.97 (Tuesday) to a fresh 20-year peak at 129.40 in Asia on active selling in yen, subsequent brief but sharp retreat to 128.07 in tandem with U.S. yields suggests recent upmove has made a temporary top there and consolidation is in store, reckon 126.30/35 would hold and yield another rise, above 129.40, 129.70/80 later.
On the downside, only a daily close below 128.07 would risk stronger retracement towards 127.79.
Data to be released on Wednesday:
Germany producer prices, Italy trade balance, EU industrial production, trade balance.
U.S. MBA mortgage application, existing home sales, Canada new housing price index and CPI.
AceTraderFx Apr 21: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 21 Apr 2022 09:30GMT
USD/JPY - 128.18
Dollar’s selloff from Wednesday’s fresh near 20-year peak at 129.40 to as low as 127.47 in New York on broad-based usd’s retreat due to fall in U.S. yields suggests recent erratic upmove has made a temporary top there and as 128.63 has capped intra-day recovery in Asia, consolidation with downside bias remains but below 127.47 needed to yield stronger retracement towards 127.22.
On the upside, only a daily close above 128.63/74 would revive bullishness for 128.98, break would re-test said resistance later.
Data to be released on Thursday:
France business climate, EU HICP.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index and EU consumer confidence.
AceTraderFx Apr 22: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 22 Apr 2022 09:30GMT
USD/JPY - 128.12
Although dollar’s erratic rise from 127.47 (Wednesday) to 128.70 Thur in tandem with U.S. yields suggests 1st leg of correction from last Wednesday’s fresh near 20-year peak at 129.40 has ended, intra-day retreat from 128.69 to 127.75 in Europe on possible yen intervention news suggests choppy trading below said resistance would continue and below 127.47 would yield stronger retracement towards 127.20/25 later.
On the upside, only a daily close above 128.69/74 would abort daily bearishness and risk stronger gain to 129.00/10 on Monday.
Data to be released on Friday:
U.K. Gfk consumer confidence, retail sales, France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, U.K. Markit manufacturing PMI, Markit services PMI, EU current account.
Canada producer prices, retail sales, U.S. Markit manufacturing PMI and Markit services PMI.
AceTraderFx Apr 25: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 25 Apr 2022 09:30GMT
USD/JPY - 128.07
Although dollar’s erratic rise from 127.47 (Wed) to 128.70 Thur in tandem with U.S. yields suggests 1st leg of correction from last Wed’s fresh near 20-year peak at 129.40 has ended, intra-day retreat from 128.69 to 127.75 in Europe on possible yen intervention news suggests choppy trading below said resistance would continue and below 127.47 would yield stronger retracement towards 127.20/25 later.
On the upside, only a daily close above 128.69/74 would abort daily bearishness and risk stronger gain to 129.00/10 later this week.
Data to be released later:
Germany Ifo business climate, Ifo current conditions, Ifo expectations, Italy Market Holiday, EU construction output, U.K. CBI trends orders.
U.S. national activity index and Dallas Fed manufacturing business index on Monday.
AceTraderFx Apr 26: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 26 Apr 2022 09:30GMT
USD/JPY - 127.95
Although dollar’s early strong retreat from last Wed’s near 2-year peak at 129.40 for 127.53 in New York morning yesterday and intra-day break there to 127.35 in Asia suggests recent upmove has made a temporary top there, subsequent rebound signals consolidation with upside bias remains but above 128.59 is needed to extend towards 128.86.
On the downside, only a daily close below 127.35 would risk stronger retracement to 127.00/10.
Data to be released on Tuesday:
U.K. right move house price, Japan unemployment rate, U.K. PSNB, PSNCR, Swiss exports, imports, trade balance.
U.S. building permits. durable goods, durable ex-transport, durables ex-defense, U.S. redbook, monthly home price, consumer confidence, new home sales and Richmond Fed manufacturing.
AceTraderFx Apr 27: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 27 Apr 2022 09:30GMT
USD/JPY - 127.85
Despite dollar’s marginal break of 127.03 (Tue) to a 1-week bottom at 126.96 in Australia today, subsequent strong recovery on active selling in yen suggests 1st leg of correction from Apr’s near 20-year peak at 129.40 over and above 127.85/90 would yield stronger gain to 128.20/22 but reckon 128.49/59 resistance would remain intact initially.
On the downside, only a daily close below 126.96 would risk one more fall to 126.45/50.
Data to be released on Wednesday:
Italy trade balance, Swiss investor sentiment.
U.S. MBA mortgage application, goods trade balance, wholesale inventories and pending home sales
AceTraderFx Apr 28: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 28 Apr 2022 09:30GMT
USD/JPY - 130.70
Dollar’s intra-day impressive rally in Asia on active selling in yen after BoJ’s dovish hold and then break of last Wednesday’s near 20-year peak at 129.60 suggests recent upmove would extend to 130.85, however, reckon 131.50/55 would hold and yield a much-needed correction due to overbought condition.
On the downside, only a daily close below 129.40 would indicate a temporary top is in place and risk stronger retracement to 128.90/00 later.
Data to be released on Thursday:
Italy business confidence, consumer confidence, industrial sales, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, KC Fed manufacturing and Canada average weekly earnings.
AceTraderFx Apr 29: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 29 Apr 2022 09:30GMT
USD/JPY - 130.35
Despite dollar’s impressive rally above previous April’s peak at 129.40 to a 20-year high of 131.24 on active selling in yen after BoJ’s dovish hold, intra-day retreat on broad-based profit taking in usd signals consolidation is in store, reckon 129.85/90 would contain downside and yield another rise, above 131.24 would extend to 131.48/53 later.
On the downside, only a daily close below 129.60 would indicate a temporary top is in place and risk stronger retracement towards 129.40, break, 129.10.
Data to be released on Friday:
France consumer spending, GDP, CPI, producer prices, Germany import prices, export prices, GDP, U.K. nationwide house price, Swiss retail sales, KOF indicator, Italy GDP, CPI, producer prices, EU HICP, GDP.
U.S. personal income, personal spending, PCE price index, employment wages, employment costs, Chicago PMI, University of Michigan sentiment, Canada GDP and budget balance.
AceTraderFx May 03: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 03 May 2022 09:30GMT
USD/JPY - 130.16
Despite dollar’s impressive rally above previous April’s peak at 129.40 to a 20-year high of 131.24 on active selling in yen after BoJ’s dovish hold, intra-day retreat on broad-based profit taking in usd signals consolidation is in store, reckon 129.85/90 would contain downside and yield another rise, above 131.24 would extend to 131.48/53 later.
On the downside, only a daily close below 129.60 would indicate a temporary top is in place and risk stronger retracement towards 129.40, break, 129.10.
Data to be released on Tuesday :
France budget balance, Germany unemployment rate, unemployment change, U.K. Markit manufacturing PMI, EU producer prices, unemployment rate.
U.S. redbook, durable goods, durables ex-defense, factory orders, durables ex-transport, JOLTS job openings.
AceTraderFx May 04: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 04 May 2022 09:30GMT
USD/JPY - 130.04
Although dollar’s retreat from last Thursday’s 20-year peak a 131.24 to 129.33 Fri signals recent upmove has made a temporary top there, subsequent rebound and daily sideways swings suggests consolidation is in store, as long as Tuesday’s bottom at 129.71 holds, upside bias remains but above 130.47 needed for 130.70/80, break would yield re-test of said resistance.
On the downside, only a daily close below 129.62 would risk stronger retracement towards 129.33, break, 129.00/10.
Data to be released on Wednesday:
U.K. BRC shop price, Japan Market Holiday, China Market Holiday, Germany exports, imports, trade balance, current account, Markit services PMI, Italy Markit services PMI, France Markit services PMI, EU Markit services PMI, retail sales.
U.S. MBA mortgage application, ADP employment change, international trade balance, good trade balance, Markit services PMI, ISM non-manufacturing PMI, Fed interest rate decision, Canada trade balance, exports and imports.
AceTraderFx May 05: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 05 May 2022 09:30GMT
USD/JPY - 129.76
Euro’s intra-day strong rebound after yesterdays sharp fall from 130.37 to as low as 128.64 in post-FOMC New York on broad-based profit taking in usd after less hawkish comments from Fed’s Powell suggests early pullback from April’s 20-year peak at 131.24 has possibly ended and stronger gain towards 130.47 would be seen but above needed for 130.75/85 later.
On the downside, only a daily close below 129.00 would indicate aforesaid recovery over and risk re-test of 128.64, break, 128.20/25.
Data to be released on Thursday:
Germany industrial orders, Swiss CPI, France industrial output, U.K. Markit Services PMI, BOE interest rate decision, asset purchase program, BOE QE total, BOE QE corporate bond purchase, BOE MPC vote cut, BOE MPC vote unchanged, BOE MPC vote hike.
U.S. initial jobless claims, continuing jobless claims, labor costs and productivity.
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AceTraderFx May 06: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 06 May 2022 09:30GMT
USD/JPY - 130.42
Dollar’s rally from 138.64 (Wed) to 130.55 Thur and intra-day break there on renewed broad-based usd’s strength suggests early pullback from April’s 20-year peak at 131.24 has ended and consolidation with upside bias remains, above 130.80 (Asia) would yield re-test of said resistance later.
On the downside, only a daily close below 129.99 would risk weakness to 129.55/65 but 129.30/40 should hold and yield rebound.
Data to be released on Friday:
Australia AIG services index, Japan Tokyo CPI.
Swiss unemployment rate, U.K. Halifax house prices, Markit construction PMI, Germany industrial output, France non-farm payrolls, Italy retail sales.
U.S. Non-farm payrolls, private payrolls, unemployment rate, average earnings, Canada employment change, unemployment rate and Ivey PMI.
AceTraderFx May 10: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 10 May 2022 09:30GMT
USD/JPY - 130.15
Despite dollar’s brief break of April’s 131.24 top to a fresh 20-year peak at 131.34 in Europe Mon, subsequent retreat to 130.13 in tandem with US stocks and US yields in New York, with intra-day break there suggests recent erratic upmove has made a temporary top there and choppy trading is in store but above 130.55/57 needed to yield further gain to 130.80/90.
On the downside, only a daily close below 129.81 would risk stronger retracement towards 129.55 but 129.33 should hold.
Data to be released on Tuesday:
U.K. BRC retail sales, Japan all household spending, Australia retail sales, Italy industrial output, Germany ZEW economic sentiment, ZEW economic expectation.
Canada leading index and U.S. redbook.
AceTraderFx May 11: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 11 May 2022 09:30GMT
USD/JPY - 130.01
Despite dollar’s brief break of April’s 131.24 high to a fresh 20-year peak on Monday, subsequent selloff to 130.13, then to 129.81 in Asia yesterday suggests recent upmove has made a temporary top there and consolidation is in store before prospect of another rebound but above 130.54/57 is needed to head back to 130.80/90.
On the downside, only a daily close below 129.50/60 would risk stronger retracement of said rise towards 129.33, break, 129.10.
Data to be released on Wednesday:
Germany CP.
U.S. MBA mortgage application, CPI and Federal budget.
AceTraderFx May 12: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 12 May 2022 09:30GMT
USD/JPY - 128.57
Dollar’s intra-day firm break of Wed’s bottom at 129.46 in Europe due to safe haven buying on global weakness suggests erratic fall from Mon’s fresh 20-year peak at 131.34 remains in force and further weakness to 128.10/20 would be seen, reckon 127.50 should contain downside and yield rebound due to over-sold condition.
On the upside, only a daily close above 129.46 would indicate aforesaid pullback over and yield stronger gain to 130.05/06.
Data to be released on Thursday:
New Zealand food price index, inflation forecast, Japan current account, trade balance, Eco watchers outlook, Eco watchers current, Australia consumer inflation, Swiss producer/import price.
U.K. RICS housing price balance, GDP, trade balance, construction output, manufacturing output, industrial output, NIESR GDP estimate.
U.S. initial jobless claims, continuing jobless claims and PPI.
AceTraderFx May 13: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 13 May 2022 09:30GMT
USD/JPY - 128.83
Dollar’s intra-day cross-inspired rally to 129.36 in Asia suggests 1st leg of correction from Mon’s fresh 20-year peak at 131.34 has possibly ended and as 128.50 has contained retreat in European morning, bullishness remains for 129.36 after consolidation, break would yield further gain towards 139.88.
On the downside, only a daily close below 128.03 would indicate aforesaid recovery over and risk weakness towards 127.53.
Data to be released on Friday:
France CPI, EU industrial production.
U.S. import prices, export prices and University of Michigan sentiment.
AceTraderFx May 16: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 16 May 2022 09:30GMT
USD/JPY - 129.31
Despite dollar’s erratic fall from last Monday’s fresh 20-year peak at 131.34 in tandem with U.S. yields to as low as 127.53 Thursday, subsequent strong rise to 129.45 Friday, then intra-day break there to 129.63 at Tokyo open today suggests pullback over but above 129.63 needed to yield stronger gain towards 129.88 after consolidation but 130.05/10 should hold.
On the downside, only a daily close below 128.71 would signal aforesaid recovery over and yield weakness towards 128.36.
Data to be released later:
Germany wholesales price index, EU trade balance.
Canada housing starts, manufacturing sales, wholesale trade, U.S. manufacturing on Monday.
AceTraderFx May 17: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 17 May 2022 09:30GMT
USD/JPY - 129.41
Despite dollar’s erratic fall from last Monday’s fresh 20-year peak at 131.34 in tandem with U.S. yields to as low as 127.53 Thursday, subsequent strong rise to 129.45 Friday, then Mon’s break there to 129.63 suggests 1st leg of correction over but above needed to yield stronger gain towards 129.88 after consolidation, reckon 130.05/10 should hold and yield retreat.
On the downside, only a daily close below 128.71 would signal aforesaid recovery over and yield weakness towards 128.36.
Data to be released on Tuesday:
France ILO unemployment rate, U,K. Claimant count, ILO unemployment rate, employment change, average weekly earnings, Italy trade balance, CPI, EU employment, GDP.
U.S. retail sales, redbook, industrial production, capacity utilization, manufacturing output, business inventories, NAHB housing market index and New Zealand GDT price index.
AceTraderFx May 18: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 18 May 2022 09:30GMT
USD/JPY - 129.17
Despite dollar’s erratic fall from last Monday’s fresh 20-year peak at 131.34 in tandem with U.S. yields to as low as 127.53 Thursday, subsequent strong rise to 129.45 Friday, then Monday’s break there to 129.63 suggests 1st leg of correction over but above needed to yield stronger gain towards 129.88 after consolidation, reckon 130.05/10 should hold and yield retreat.
On the downside, only a daily close below 128.71 would signal aforesaid recovery over and yield weakness towards 128.36.
Data to be released on Wednesday:
U.K. CPI, RPI, PPI input prices, PPI output prices, PPI core output prices, DCLG house price, EU HICP.
U.S. MBA mortgage application, building permits, housing starts and Canada CPI.