Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

Daily market outlook on major

Update Time: 16 Aug 2022 09:30GMT.

USD/JPY - 133.83

Although dollar's fall from 135.57 last Monday to 131.74 (Thursday) suggests early strong rise from August's 7-week bottom at 130.41 has made a top, subsequent rebound to 133.89 Friday and yesterday's decline to 132.56 in New York, then intra-day rebound on broad-based usd's strength in tandem with U.S. yields would prolong choppy range trading and above 133.54/59 needed for re-test of 133.89, break, 134.37.

On the downside, only a daily close below 132.56 may risk weakness towards 132.04 but 131.74 should hold.

Data to be released on Tuesday

U.K. claimant count, ILO unemployment rate, average weekly earnings, EU trade balance, ZEW survey expectations, Germany ZEW economics sentiment, ZEW current conditions,
Canada housing starts, CPI, U.S. building permits, housing starts, redbook, industrial output, capacity utilization and manufacturing output.

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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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