Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

Daily market outlook on major

Update Time: 28 Jan 2022 09:30GMT.

USD/JPY - 115.62

Despite the greenback's resumption of recent decline from January's near 5-year 116.34 peak to Mon's 1-month bottom at 113.48, subsequent rally to as high as 115.48 yesterday, then intra-day break there suggests the correction has ended and consolidation with upside bias remains for gain to 115.84/90, however, near term loss of momentum would keep price below 116.00/05 today and bring retreat.

On the downside, only a daily close below 114.15 would signal said recovery over and risk weakness to 113.79/84 tomorrow.

Data to be released on Friday

Japan Tokyo CPI, Australia PPI.
France consumer spending, GDP, producer prices, Swiss KOF indicator, Italy business confidence, consumer confidence, producer prices, German import prices, GDP, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence.
U.S. personal income, personal spending, PCE price index, employment wages, employment costs, University of Michigan sentiment and Canada budget balance on Friday.

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AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

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