Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

Daily market outlook on major

Update Time: 30 Mar2022 09:30GMT.

USD/JPY - 121.79

The greenback's intra-day rally above Friday's fresh 6-year peak at 122.43 on BoJ's monetary easing suggests Medium Term upmove remains in progress and further gain towards 122.00/10 would be seen after minor consolidation, however, loss of momentum would keep price below 122.40/50 and bring a much-needed correction later tomorrow or early next week.

On the downside, only below 120.60 would indicate a temporary top has been made and risk stronger retracement towards 120.20/30.

Data to be released on Wednesday

U.K. BRC shop price index, Japan retail sales, Swiss KOF indicator, investor sentiment, Italy industrial sales, producer prices, EU consumer confidence, services sentiment, industrial sentiment, economic sentiment, business climate.
U.S. MBA Mortgage application, PCE prices, GDP, Germany HICP and CPI.

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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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