AceTraderFx May 19: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 19 May 2022 09:30GMT
USD/JPY - 127.97
Dollar’s selloff from 129.77 (Tuesday) to 128.02 in New York on Wednesday on safe-haven yen buying and fall in US yields due to US stock market rout suggests recovery from last Thursday’s 2-week bottom at 127.53 has ended and despite intra-day strong rebound to 128.94 in Asia, present sharp retreat in European morning has retained bearishness and below 127.53 would extend decline from May’s 20-year peak at 131.34 towards 126.96 later.
On the upside, only a daily close above 128.94 would prolong choppy swings and risk stronger retracement towards 129.34.
Data to be released on Thursday:
EU current account, construction orders.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, existing home sales, leading index, Canada new housing price index and producer prices.
AceTraderFx May 20: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 20 May 2022 09:30GMT
USD/JPY - 127.98
Although dollar’s rebound after yesterday’s selloff below 128.02 to a 3-week bottom at 127.04 in New York on broad-based usd’s retreat in tandem with U.S. yields suggests decline from May’s fresh 20-year 131.34 peak has made a temporary low there, intra-day retreat from 128.21 in Asia suggests consolidation with mild downside bias remains and below 127.53 would re-test 127.04, break would extend said fall to 126.80 later.
On the upside, only a daily close above 128.21 would bring stronger retracement to 128.68 but 128.94 may hold.
Data to be released on Friday:
U.K. Gfk consumer confidence, PSNB, retail sales, Germany producer prices and Swiss industrial production.
AceTraderFx May 23: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 23 May 2022 09:30GMT
USD/JPY - 127.56
Dollar’s intra-day strong rebound from 127.16 in Asia on news of possible lifting of US tariff on China suggests further choppy trading above last Thur’s 3-week bottom at 127.04 would continue with mild upside bias but above 128.29 needed to head back towards 128.68.
On the downside, only a daily close below 127.04 would extend fall from May’s fresh near 20-year 131.34 peak to 126.75/85 before recovery later.
Data to be released later :
Germany Ifo business climate, Ifo current conditions, Ifo expectations.
U.S. national activity index and Canada Market Holiday on Monday.
AceTraderFx May 24: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 24 May 2022 09:30GMT
USD/JPY - 127.38
Dollar’s selloff to last Thur’s 3-week bottom at 127.04 suggests a long-awaited correction of recent uptrend has occured and despite intra-day recovery to 128.08 in Asia, subsequent retreat signals consolidation with downside bias remains for re-test of said support, break would extend said decline to 126.70/80.
On the upside, only a daily close above 128.29 would indicate aforesaid pullback over and risk stronger gain to 128.65/68.
Data to be released on Tuesday:
U.K. Rightmove house price, PSNB, PSNCR, S&P Global manufacturing PMI, S&P Global services PMI, CBI distributive trade, France business climate, S&P Global manufacturing PMI, S&P Global services PMI, Germany S&P Global manufacturing PMI, S&P Global services PMI, EU S&P Global manufacturing PMI, S&P Global services PMI.
U.S. building permits, redbook, S&P Global manufacturing PMI, S&P Global services PMI , new home sales and Richmond Fed manufacturing.
AceTraderFx May 25: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 25 May 2022 09:30GMT
USD/JPY - 127.04
Dollar’s selloff to last Thur’s 3-week bottom at 127.04 suggests a long-awaited correction of recent uptrend has occured and despite intra-day recovery to 128.08 in Asia, subsequent retreat signals consolidation with downside bias remains for re-test of said support, break would extend said decline to 126.70/80.
On the upside, only a daily close above 128.29 would indicate aforesaid pullback over and risk stronger gain to 128.65/68.
Data to be released on Wednesday:
Germany GDP, Gfk consumer confidence, France consumer confidence, Swiss investor sentiment, U.S. mortgage application, durable goods, durables ex-transport and durables ex-defense.
AceTraderFx May 26: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 26 May 2022 09:30GMT
USD/JPY - 126.78
Dollar’s intra-day selloff from 127.58 on hawkish comments from BoJ’s Kuroda in Europe suggests correction from Tuesday’s 1-month bottom at 126.37 has possibly ended there and below would extend decline from May’s 20-year peak at 131.34 to 126.10/20 before prospect of recovery tomorrow.
On the upside, only a daily close above 121.10/20 would signal aforesaid pullback over and risk stronger gain towards 127.58.
Data to be released on Thursday:
Germany Market Holiday, France Market Holiday, Swiss Market Holiday, Italy business confidence, consumer confidence, industrial sales.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, pending home sales, KC Fed manufacturing, Canada retail sales and average weekly earnings.
AceTraderFx May 27: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 27 May 2022 09:30GMT
USD/JPY - 127.10
Despite dollar’s sharp fall from 157.58 to as low as 126.56 in Europe Thursday on hawkish comments from BOJ’s Kuroda, subsequent strong rebound suggests further choppy trading above Tue’s 1-month bottom at 126.37 would continue and above 157.58 would bring stronger retracement of decline from May’s 20-year 131.34 peak towards 128.08.
On the downside, a daily close below 126.56 needed for re-test of 126.37, break would head to 126.10/20 before recovery.
Data to be released on Friday:
U.S. personal income, personal spending, PCE price index, goods trade balance, wholesale inventories, University of Michigan sentiment and Canada budget balance.
AceTraderFx May 30: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 30 May 2022 09:30GMT
USD/JPY - 127.35
Although dollar’s rebound to 127.58 (Thursday) after last week’s resumption of decline to a 1-month bottom at 126.37 in New York Tuesday suggests further choppy sideways swings would continue, as long as 127.58 holds, bearishness remains for prospect of another fall, below 126.37 would extend towards 126.01 later.
On the upside, only a daily close above 127.58 would yield stronger gain towards 127.67 but 128.08 should cap upside.
Data to be released later today :
Germany import prices, Swiss non-farm payrolls, KOF indicator, Italy producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP, Canada current account.
U.S. Market Holiday on Monday.
AceTraderFx May 31: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 31 May 2022 09:30GMT
USD/JPY - 127.73
Despite dollar’s intra-day rally above 127.82 (Mon) to 127.33 in Asia on active selling in yen, subsequent retreat in European morning in tandem with U.S. yields suggests recovery from May’s 1-month bottom at 126.37 has ended there and below 127.58 would yield further weakness to 127.20/25 later.
On the upside, above 128.00 would indicate pullback over and re-test of 128.33 would be seen, but break needed for further gain to 128.50/55, 128.86.
Data to be released on Tuesday :
U.K. nationwide house price, Swiss exports, imports, trade balance, retail sales, GDP, France consumer spending, GDP, CPI, producer prices, Germany unemployment rate, unemployment change, Italy GDP, CPI, EU HICP, Canada GDP.
U.S. monthly home price, Chicago PMI, consumer confidence and Dallas Fed manufacturing business index.
AceTraderFx Jun 01: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 01 Jun 2022 09:30GMT
USD/JPY - 129.46
Dollar’s rally above 127.82 (Mon) to 128.88 in New York Tuesday in tandem with US yields and intra-day break there suggests decline from May’s 20-year peak at 131.34 has ended at 126.37 (Tuesday) and further gain towards 129.44 is envisaged but 129.77 should remain intact initially.
On the downside, only a daily close below 128.78/88 would indicate temporary top made and risk weakness towards 128.33.
Data to be released on Wednesday:
U.K. BRC shop price index, S&P Global manufacturing PMI, Japan business capex, Jibun bank manufacturing PMI, China Caixin manufacturing PMI, Germany retail sales, S&P Global manufacturing PMI, France budget balance, S&P Global manufacturing PMI, Swiss manufacturing PMI, Italy S&P Global manufacturing PMI, unemployment rate, EU S&P Global manufacturing PMI, unemployment rate.
U.S. mortgage application, ADP employment change, redbook, S&P Global manufacturing PMI, construction spending, ISM manufacturing PMI, JOLTS job openings, Canada BOC rate decision and S&P Global manufacturing PMI.
AceTraderFx Jun 02: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 02 Jun 2022 09:30GMT
USD/JPY - 129.93
Dollar’s rally above 128.88 (Tue) to as high as 130.18 in New York Wednesday on usd’s strength due to rally in U.S. yields and intra-day break there suggests correction from May’s 20-year peak at 131.34 has ended at 126.37 (Tue) and present retreat would yield consolidation before prospect of another rise towards 130.40 later.
On the downside, only a daily close below 129.77 may indicate a temporary top made and risk stronger retracement to 129.21/25 before rebound.
Data to be released on Thursday:
Swiss CPI, U.K. Market Holiday, Italy Market Holiday, EU producer prices.
Canada building permits, U.S. initial jobless claims, continuing jobless claims, labor costs, productivity, durables ex-defense, durables goods, durable ex-transport and factory orders.
AceTraderFx Jun 06: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 06 Jun 2022 09:30GMT
USD/JPY - 130.70
Dollar’s rally to a 1-month peak at 130.98 in tandem with U.S. yields in post-NFP New York Friday, then to 130.99 in Australia today suggests upmove from May’s 1-month bottom at 126.37 would yield re-test of May’s 20-year peak at 131.34 after consolidation but above needed to extend towards 131.79 before retreat.
On the downside, only a daily close below 130.23 would signal temporary top made and risk stronger retracement to 130.00/04.
Data to be released today:
France Market Holiday, Germany Market Holiday and Swiss Market Holiday on Monday.
AceTraderFx Jun 07: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 07 Jun 2022 09:30GMT
USD/JPY - 132.62
Dollar’s rally above May’s 131.34 top to a fresh 20-year peak at 132.01 in New York Monday in tandem with U.S. yields and intra-day firm break there suggests long term uptrend has once again resumed, above 132.99 would extend towards 133.40 but 133.79 should cap upside and yield a much-needed correction due to overbought condition.
On the downside, only a daily close below 132.01 would indicate a temporary top is in place and risk stronger retracement towards 131.34.
Data to be released on Tuesday:
U.K. BRC retail sales, S&P Global services PMI, Germany industrial orders, EU sentix index.
U.S. trade balance, redbook, Canada trade balance, imports, exports, Ivey PMI and New Zealand GDT price.
Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 08 Jun 2022 09:30GMT
USD/JPY - 133.77
Dollar’s intra-day rally above Tue’s fresh 20-year peak at 132.99 on continued selling in yen suggests long term upmove remains in force and marginal gain would be seen, reckon 133.80/90 would limit upside today and yield a much-needed correction due to near term loss of momentum.
On the downside, only a daily close below 132.33 would indicate temporary top made and risk stronger retracement towards 132.01.
Data to be released on Wednesday:
Swiss unemployment rate, U.K. Halifax house prices, S&P construction PMI, Germany industrial output, France trade balance, imports, exports, Italy retail sales, EU employment, GDU.
U.S. MBA mortgage application, wholesale inventories and wholesale sales.
AceTraderFx Jun 09: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 09 Jun 2022 09:30GMT
USD/JPY - 133.54
Despite dollar’s resumption of uptrend to a fresh 20-year peak at 134.55 at Tokyo open today, subsequent retreat in tandem with U.S. yields in Europe suggests temporary top is made and 1-2 days of consolidation would be seen before marginal gain to 134.82/87 later.
On the downside, only below 133.20/25 would dampen bullishness and yield stronger retracement to 132.95/99.
Data to be released on Thursday:
U.K. RICS housing price balance, France non-farm payrolls, EU ECB refinancing rate, ECB deposit rate.
U.S. initial jobless claim and continuing jobless claims.
AceTraderFx Jun 10: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 10 Jun 2022 09:30GMT
USD/JPY - 133.71
Despite dollar’s sharp fall from Thursday’s fresh 20-year peak at 134.55 to as low as 133.19 in Europe, subsequent strong rebound to 133.44 on broad-based usd’s strength and intra-day retreat suggests further choppy sideways swings in in store and above said resistance would extend long term upmove towards 2002 high at 135.20, break, 135.73 next week.
On the downside, only a daily close below 133.19 would indicate a temporary top is in place and risk stronger retracement to 132.85/95.
Data to be released on Friday:
Italy industrial sales, U.K. consumer inflation.
U.S. CPI, University of Michigan sentiment, Federal budget, Canada capacity, employment change and unemployment rate.
AceTraderFx Jun 13: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 13 Jun 2022 09:30GMT
USD/JPY - 134.50
Despite dollar’s intra-day rally above last Thursday’s fresh 20-year peak at 134.55 to 135.22 in Asia on follow-through buying due to Friday’s broad-based gain in usd on red hot U.S. inflation, subsequent retreat signals a temporary top is in place and consolidation is seen before prospect of another rise later.
On the downside, only a daily close below 133.90/00 would risk further weakness to 133.37, 133.19.
Data to be released today:
UK GDP, trade balance, construction, manufacturing output, industrial output, NISER GDP.
Canada leading index on Monday.
AceTraderFx Jun 14: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 14 Jun 2022 09:30GMT
USD/JPY - 134.32
Although usd’s rally to a 24-year peak at 135.22 in Asia Monday and subsequent strong retreat to 133.60 in New York on active yen buying suggests long term uptrend has made a temporary top there, intra-day rebound from 133.88 on news of BOJ bond buying programme suggests consolidation with mild upside bias remains but above 134.81 needed for re-test of 135.22 .
On the downside, only a daily close below 133.60 would risk stronger retracement towards 133.19, break, 132.99.
Data to be released on Tuesday:
UK claimant count, ILO unemployment rate, employment change, average weekly earnings, Germany CPI, ZEW economic sentiment, ZEW economic conditions, EU ZEW survey expectations.
Canada manufacturing sales, U.S. PPI and redbook.
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.
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.