Daily market outlook on major

Update Time: 23 May 2022 09:30GMT.

USD/JPY - 127.56

Dollar's intra-day strong rebound from 127.16 in Asia on news of possible lifting of US tariff on China suggests further choppy trading above last Thur's 3-week bottom at 127.04 would continue with mild upside bias but above 128.29 needed to head back towards 128.68.

On the downside, only a daily close below 127.04 would extend fall from May's fresh near 20-year 131.34 peak to 126.75/85 before recovery later.

Data to be released later

Germany Ifo business climate, Ifo current conditions, Ifo expectations.
U.S. national activity index and Canada Market Holiday on Monday.

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