Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

Daily market outlook on major

Update Time: 08 Apr 2022 09:30GMT.

USD/JPY - 124.06

Dollar's rally from last Thur's bottom at 121.29 to as high as 124.23 in Australia today on continued USD's strength due to rally in U.S. yields suggests early correction from Mar's near 7-year peak at 125.10 has possibly ended and as 123.68 (Asia) has contained subsequent retreat, consolidation with upside bias remains for 124.30/40 but 124.70 should hold.

On the downside, only a daily close below 123.47 would signal a temporary top is in place and risk stronger retracement towards 123.03.

Data to be released on Friday

Japan current account, trade balance, consumer confidence, Eco watchers current, Eco watchers outlook.
Italy retail sales.
Canada unemployment rate, employment change, U.S. wholesale sales and wholesale inventories.

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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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