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.
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.
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.
AceTraderFx Jun 22: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 22 Jun 2022 09:30GMT
USD/JPY - 136.21
Despite dollar’s 1-week long wild swings from previous Jun’s peak at 135.59, yesterday’s rally above there to a fresh 24-year top at 136.70 in New York on continued selling in yen suggests long term uptrend would head to 137.10/20, reckon projected target at 137.41 should hold and yield a much-needed correction due to loss of momentum.
On the downside, only a daily close below 135.59 would indicate a temporary top is in place and risk stronger retracement towards 135.20, break, 134.93
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.
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.
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.
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.
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.
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
AceTraderFx Jun 30: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 30 Jun 2022 09:30GMT
USD/JPY - 136.23
Despite resumption of uptrend to a fresh 24-year peak of 136.99 in New York yesterday, subsequent retreat in tandem with U.S. yields and intra-day fall from 136.81 to as low as 135.97 suggests temporary top has been made and consolidation with downside bias is seen for a long-overdue retracement to 135.54/59 but reckon 135.12 would contain weakness.
Only above 136.81 signals pullback over and yields one more rise towards projected target at 137.20 before prospect of a correction.
Data to be released on Thursday :
UK GDP, current account, nationwide house price, Germany import prices, retail sales, unemployment change, unemployment rate, CPI, Swiss retail sales, KOF indicator, France consumer spending, CPI, producer prices, Italy unemployment rate, producer prices, EU unemployment rate.
U.S. person income, personal spending, PCE price index, initial jobless claims, continuing jobless claims, Chicago PMI and Canada GDP.
AceTraderFx July 04: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 04 July 2022 09:30GMT
USD/JPY - 135.35
Euro’s selloff below 135.56 (Thursday) to as low as 134.75 in tandem with US yields at European open last Friday suggests long term uptrend has made a temporary top at Wednesday’s fresh 24-year peak at 136.99 and subsequent sideways swings would yield consolidation before prospect of another fall, below 134.75 would head towards 134.53 but 134.27 should hold.
On the upside, only a daily close above 135.66 would signal aforesaid pullback over and risk gain to 135.88/98.
Data to be released today:
Germany exports, imports, trade balance, Swiss CPI, EU Sentix index, producer prices.
US Market Holiday and Canada SnP manufacturing PMI on Monday.
AceTraderFx July 05: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 05 July 2022 09:30GMT
USD/JPY - 135.67
Dollar’s selloff below 135.56 (Thur) to as low as 134.75 in tandem with US yields at European open last Fri suggests long term uptrend has made a temporary top at Wed’s fresh 24-year peak at 136.99 and subsequent sideways swings would yield consolidation before prospect of another fall, below 134.75 would head towards 134.53 but 134.27 should hold.
On the upside, only a daily close above 135.66 would signal aforesaid pullback over and risk gain to 135.88/98.
Data to be released on Tuesday :
France industrial output, SnP global services PMI, Italy SnP global services PMI, Germany SnP global services PMI, EU SnP global services PMI, UK SnP global services PMI.
Canada building permits, US durables ex-defense, durable goods, factory orders and durables ex-transport.
AceTraderFx July 06: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 06 July 2022 09:30GMT
USD/JPY - 135.26
Dollar’s early selloff from last Wed’s fresh 24-year peak at 136.99 in tandem with U.S. yields to 134.75 (Fri) signals a temporary top has been made, despite staging a strong rise to as high as 136.36 yesterday on broad-based safe-haven buying in usd, intra-day firm break of 135.53 would yield re-test of 134.75, below, 134.53, 134.27.
On the upside, only a daily close above 135.89 would prolong choppy swings and risk another rise to 136.26/36 later.
Data to be released on Wednesday:
Germany industrial orders, U.K. SnP construction PMI, labor productivity, EU retail sales.
U.S. mortgage application, redbook, SnP global services PMI, ISM non-manufacturing PMI, JOLTS job opening.
AceTraderFx July 07: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 07 July 2022 09:30GMT
USD/JPY - 136.09
Despite dollar’s sharp fall from last Wed’s fresh 24-year peak at 136.99 to as low as 134.75 Fri in tandem with US yields, subsequent strong rebound to 136.36 Tue and yesterday’s bounce to 136.00 suggests consolidation with upside bias remains and above 136.36 would yield re-test of said res, break, 136.70/80 later.
On the downside, only a daily close below 135.26 would prolong choppy swings and risk weakness towards 134.96, 134.75.
Data to be released on Thursday:
Swiss unemployment rate, U.K. Halifax house price, Germany industrial output.
U.S. ADP employment rate, international trade balance, goods trade balance, initial jobless claims, continuing jobless claims, Canada trade balance, exports, imports and Ivey PMI.
AceTraderFx July 08: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 08 July 2022 09:30GMT
USD/JPY - 135.77
Although dollar’s sharp decline from last Wed’s fresh 24-year peak at 136.99 in tandem with US yields to 134.75 last Friday suggests long term uptrend has made a temporary top there, subsequent bounce to 136.36 Tue signals pullback possibly over and above 136.36 would yield stronger gain to 136.70/80.
On the downside, only a daily close below 134.96 would bring weakness towards 134.75 but 134.27 should contain downside.
Data to be released on Friday:
US non-farm payrolls, private payrolls, unemployment rate, average weekly earnings, wholesale inventories, wholesale sales, Canada employment change and unemployment rate.
AceTraderFx July 11: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 11 July 2022 09:30GMT
USD/JPY - 136.84
Dollar’s intra-day rally above Jun’s fresh 24-year high at 136.99 in Asia on dovish comments from BOJ’s Kuroda suggests long term has once again resumed and further gain towards 137.50 would be seen after consolidation but 137.90/00 should cap upside.
On the downside, only a daily close below 136.56 would indicate a temporary top is in place and risk stronger retracement to 135.88/98.
Data to be released later:
Italy retail sales.
Canada leading index on Monday.
AceTraderFx July 12: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 12 July 2022 09:30GMT
USD/JPY - 137.22
Dollar’s rally above previous 136.99 daily resistance to a fresh 24-year peak at 137.75 in New York Monday on broad-based safe-haven usd buying suggests long term uptrend has once again resumed and further gain to 138.15 would be seen but reckon 138.45/55 should remain intact and yield correction later.
On the downside, only a daily close below 136.99 would indicate a temporary top is in place and risk stronger retracement towards 136.56.
Data to be released on Tuesday:
U.K. BRC retail sales, Japan producer prices, New Zealand NAB business conditions, NAB business confidence, Germany ZEW economic confidence, ZEW current conditions, EU ZEW survey expectation and US redbook.
AceTraderFx July 13: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 13 July 2022 09:30GMT
USD/JPY - 137.09
Dollar’s selloff from 137.52 to as low as 136.49 in New York yesterday on broad-based retreat in usd suggests recent erratic upmove has made a temporary top at Mon’s fresh 24-year peak at 137.75 and intra-day rebound would yield further range trading , above 137.52 needed for stronger gain towards 137.75.
On the downside, only a daily close below 136.70 would risk stronger retracement towards 136.49, break, 136.25.
Data to be released on Wednesday:
U.K. GDP, trade balance, industrial output, manufacturing output, construction output, Germany CPI, HICP, France CPI, EU industrial production.
U.S. MBA mortgage application, CPI, Federal budget and Canada BOC interest rate decision.
AceTraderFx July 14: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 14 July 2022 09:30GMT
USD/JPY - 139.25
Dollar’s rally above 137.75 resistance to a fresh 24-year high at 137.86 Wed on release of red hot US CPI and then intra-day firm break there on active selling in yen suggests upside bias remains for further gain to 138.90/00, however, overbought condition should cap price below 139.19 and yield a much-needed correction later.
On the downside, only a daily close below 137.75 would indicate a temporary top is in place and risk stronger retracement towards 137.44.
Data to be released on Thursday:
U.K. RICS housing price balance, Australia employment change, unemployment rate, Japan industrial output, capacity utilization, Swiss producer/import prices, France Market Holiday.
U.S. initial jobless claims, continuing jobless claims, PPI and Canada manufacturing sales.
AceTraderFx July 18: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 18 July 2022 09:30GMT
USD/JPY - 137.97
Although dollar’s erratic fall from Thursday’s fresh 24-year peak at 139.39 to 139.40 in New York Friday on profit taking suggests long term upmove has made a temporary top there, reckon 137.86 (Wednesday) should hold and yield another rebound due to near term oversold condition but 139.12 (Friday top) may cap upside today.
On the downside, only a daily close below 137.60/70 would dampen bullishness and risk stronger retracement to 137.25/30.
Data to be released today:
Italy trade balance, Canada housing starts.
U.S. NAHB housing market index on Monday.