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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.