Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

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.

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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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