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Update Time: 19 Mar 2024 05:26GMT

INTRA-DAY EUR/JPY OUTLOOK - +163.40+

Euro's intra-day impressive rally fm 162.08 on
BoJ's interest rate hike n break of Mon's fresh 1-
week peak at 162.68 suggests recent erratic rise fm
Mar's 1-month 160.22 bottom remains in force n gain
twd 163.35/40 is seen but 163.52 may hold initially

Trade fm long side for this move as only below
162.68 risks retracement back twd 162.04.
Rate: +163.40+
Strategy: +Target met+
Position: Long at 162.65
Objective: +163.40+
Stop-Loss:
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MARKET REVIEW ON 19 Mar 2024 02:15 GMT

Dollar edged slightly higher ahead of BoJ and RBA interest rate decision today

The following currency report was taken from Reuters: 
 
The dollar edged higher on Monday ahead of a slew of central bank meetings this week, with the Bank of Japan potentially set to end negative interest rates and the market waiting for the Federal Reserve's latest projections for its rate cut plans. 
 
In addition to Japan and the United States, central banks in Britain, Australia, Norway, Switzerland, Mexico, Taiwan, Brazil and Indonesia are all due to meet this week. 
 
The dollar index, which measures the U.S. currency against six other major  ...
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MARKET MOVING NEWS

  
All times in GMT    
19 Mar 2024 03:51 USD/JPY - 149.59... Reuters news, 
 
- BOJ decides to change money market operations guideline by 7-2 vote 
- BOJ board member Nakamura and Noguchi dissented to decision on change in money market operations guideline 
- BOJ's Nakamura dissented to decision on change in money market operations saying he .....
19 Mar 2024 03:50 USD/JPY - 149.62... Reuters reported the Bank of Japan (BOJ) announced on Tuesday it will reduce the amount of government bonds it will purchase after ending its negative interest rate policy and abolishing yield curve control (YCC). 
 
According to the new guidelines, the BOJ will significantly reduc.....
19 Mar 2024 03:47 USD/JPY - 149.70... Reuters news, BOJ says : 
 
- change in monetary policy framework 
- assessed virtuous cycle between wages and prices 
- judged it came in sight that price stability target of 2% would be achieved in sustainable, stable manner toward end of projection period 
- considers QQE, YCC and .....
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ECONOMIC INDICATORS FOR 19/03/2024

All times in GMT    
Time Country Indicator Actual Forecast Range Previous Revised
Japan BoJ Interest Rate Decision 0.00% 0.00% -0.10/0.10 -0.10%
Japan BoJ Monetary Policy Statement
0330 Australia RBA Interest Rate Decision 4.35% 4.35% 4.35/4.35 4.35%
0330 Australia RBA Rate Stataement
0430 Japan Industrial Output MM - Jan -6.7% N/A N/A -7.5%
0430 Japan Capacity Utilization MM - Jan -7.9% N/A N/A -0.1% 0.2%
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DAILY MARKET OUTLOOK

Update Time: 18 Mar 2024 07:58 GMT

USD/JPY - 149.13

Despite dollar's fall to a 1-month low of 146.48 in Mar, subsequent rally to 149.17 Fri, then 149.32 today suggests a temporary bottom is made and stronger retracement towards 150.05/15 would be seen after consolidation, however, reckon 150.50/60 should cap upside today.  
  
On the downside, only a daily close below 148.90/92 risks weakness to 148.59/66, then 148.30/35 before rebound.
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WHY AceTrader?

20 years of history in providing forex market analysis and trading recommendations to institutional traders
True 24 hours real-time analysis for up-to-the-minute recommendations and analysis
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DAILY USD/JPY TECHNICAL OUTLOOK

All times in GMT    
Last Update At 01/11/2023 02:25 GMT
Trend Daily Chart Daily Indicators 21 HR EMA 55 HR EMA
Up Bearish divergence 151.06 150.48
Trend Hourly Chart Hourly Indicators 13 HR RSI 14 HR DMI
Up Easing fm overbought 60 +ve
Daily Analysis
One more rise b4 correction
Resistance Support
152.20 - Equality of 147.38-150.77 fm 148.81
151.94 - Oct 2022 32-year high
151.72 - Tue's fresh 1-year high
151.07 - Hourly chart
150.64 - Tue's NY low
150.08 - Tue's European low
USD/JPY - 151.25..Dlr found buying interest at 149.03 in Aust. on Tue n price jumped to 150.10 in Asia on BOJ's dovish hold. The pair later rallied to a fresh 1-year 151.72 peak in NY on rally in US yields b4 retreating. . On the bigger picture, dlr's spectacular rally fm 2011 historic 75.32 low (Mar) due to coordinated yen-selling intervention by G7 central banks to weaken the yen in th.....
Click on the chart to enlarge image

charts offered by ProRealTime.com
 
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WHO WE ARE

AceTrader provides "up-to-the-minute" financial market commentaries and foreign exchange trading recommendations round the clock.

AceTrader is the internet operation of Trendsetter, a global specialist data provider who has been providing its users with real time commentaries and trading recommendations focusing on the foreign exchange market for over 20 years. A dedicated team 7 Analysts monitor the market and update recommendations and commentaries 20 hours a day.

Our coverage includes 20 different instruments with a primary focus on the foreign exchange market and Gold & Silver.

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