AceTraderForex April 25: Daily Market Outlook on USD/JPY
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  1. #1

    Smile AceTraderForex April 25: Daily Market Outlook on USD/JPY

    DAILY MARKET OUTLOOK USD/JPY - 102.40

    Update Time: 25 Apr 2014 01:44 GMT

    Despite yesterday's retreat to 102.09, subsequent rebound in Asian morning suggests dollar's choppy consolidation below Wednesday's high at 102.73 is likely to continue with neutral bias. A breach of 102.73 would confirm erratic up move from April's low at 101.32 has once again resumed and extend gain to 103.06, however, loss of momentum should cap price at 103.39/40 today.

    On the downside, a breach of 101.86 would indicate the recovery from 101.32 is over instead and weakness to 101.50 and 101.32 would follow.
    Last edited by AceTraderForex; 01-10-2016 at 11:02 PM.

  2. #2

    Smile AceTraderForex Apr 29: Daily Outlook on USD/JPY

    DAILY MARKET OUTLOOK USD/JPY - 102.49
    Update Time: 29 Apr 2014 00:42 GMT

    As U.S. dollar rebounded after finding renewed buying at 102.04 on Monday in part due to renewed cross selling in Japanese yen, suggesting the pullback from last Tuesday's high at 102.73 has possibly ended at 101.96 last Friday and a breach of aforesaid resistance would confirm up move from April's low at 101.32 to retrace decline from April's 2-1/2 month peak at 104.13 has resumed, yield further gain to 103.06 (61.8% r).

    On the downside, only a breach of 101.86/91 support area would prolong recent choppy consolidation and may risk weakness to 101.50 but 101.32 support would hold initially.
    Last edited by AceTraderForex; 01-10-2016 at 11:02 PM.

  3. #3

    Smile AceTraderForex May 2: Daily Outlook on Major USD/JPY

    DAILY MARKET OUTLOOK USD/JPY - 102.28
    Update Time: 02 May 2014 00:13 GMT

    The greenback traded narrowly on Thursday after Wednesday's strong retreat from 102.67 to 102.03, however, as aforesaid sell off suggests recent up move from April's low at 101.32 has formed a temporary top at 102.79 on Tuesday 102.79, choppy consolidation with downside bias would be seen and weakness towards 101.96 support (last Friday's low) is likely, below would bring stronger pullback to 101.60/70, however, as broad outlook remains consolidative, April's low at 101.32 should hold from here and yield further choppy gyrations.

    On the upside, only a breach of 102.67 would turn outlook bullish for another corrective rise to 103.06, being 61.8% retracement of 104.13-101.32, however, reckon upside would be limited to 103.30/40.
    Last edited by AceTraderForex; 01-10-2016 at 11:03 PM.

  4. #4

    Smile AceTraderForex May 6: Daily Outlook on USD/JPY

    DAILY MARKET OUTLOOK USD/JPY

    Update Time: 06 May 2014 00:26 GMT

    Despite last Friday's brief rise to 103.02 due to the release of upbeat US jobs report, the renewed tension in Ukraine knocked price lower to 102.13 and then 101.86 yesterday, suggesting the erratic up move from April's low at 101.32 has possibly formed a temporary top there and consolidation with downside bias would be seen, however, breach of said sup needed to confirm decline from this year's top at 105.45 has once again resumed and yield re-test of 100.76 (February's low).

    On the upside, only a breach of 103.02 would prolong recent choppy consolidation and may risk stronger gain to 103.45 but res at 104.13 (April's high) is expected to remain intact.
    Last edited by AceTraderForex; 01-10-2016 at 11:03 PM.

  5. #5

    Smile Acetraderforex May 7: Intra-Day Market Moving News and Views USD/JPY

    Intra-Day Market Moving News and Views

    06 May 2014 23:54GMT

    USD/JPY - 101.71
    Bank of Japan April 7-8 minutes stated that "most members agreed BOJ should continue with QE as long as necessary to meet 2% price target; one member said BOJ's easing should be restricted to about 2 years; one member said speculation about protracted QE could lead to economic instability in the medium to long term; one member said corprate profits, employment and income are improving significantly.
    Members agreed that consumer spending is resilient, even though there are some fluctuations due to sale tax hike; one member said front-loaded demand before sales tax hike in April was greater than last sales tax hike in 1997; one member said consumer confidence could pick up if exports increase and companies bring forward CAPEX plans; many members said price gains are seen across a wide range of items and not just energy-related goods; one member expressed concern that foreign exchange moves are having more influence on consumer prices; one member said inflation could quicken from April as firms use sales tax hike as opportunity to pass on rising costs."

  6. #6

    Smile AceTraderForex May 21: Daily Market Outlook on USD/JPY

    DAILY MARKET OUTLOOK on USD/JPY - 101.27

    Update Time: 21 May 2014 01:24 GMT


    Dollar retreated after meeting renewed selling at 101.60 in Asian morning on Tuesday suggests the recovery from Monday's fresh 3-1/2 month high at 101.10 has possibly ended and erratic decline from April's high at 104.13 should resume for weakness to said level, below would encourage for a re-test of this year's low at 100.76 (February).

    On the upside, only above 101.83 (being 38.2% are of intermediate decline from 103.02) would signal temporary low is made and risk stronger bounce to 102.12 and 102.36 resistance.
    Last edited by AceTraderForex; 01-10-2016 at 11:03 PM.

  7. #7

    Smile AceTraderForex May 28: Daily Market outlook on USD/JPY

    DAILY MARKET OUTLOOK USD/JPY - 101.93

    Update Time: 28 May 2014 01:33GMT

    The greenback extended up move from last Wednesday's 3-1/2 month low at 100.81 to 102.14 on improved risk appetite due to dollar's broad-based strength after the release of robust U.S. economic data, suggesting a stronger retracement of decline from April's high at 104.13 would be seen and further gain to 102.36 resistance is envisaged, however, reckon 102.86 should cap upside and yield retreat later.

    On the downside, only a breach of 101.60 support would signal the recovery is over instead and may bring weakness to 101.35 support level.
    Last edited by AceTraderForex; 01-10-2016 at 11:04 PM.

  8. #8

    Smile AceTraderForex May 30: Daily Technical Outlook & Trading Ideals on USD/JPY

    DAILY USD/JPY TECHNICAL OUTLOOK
    Last Update At 29 May 2014 23:47GMT

    Trend Daily Chart
    Sideways

    Daily Indicators
    Turning up

    21 HR EMA
    101.70

    55 HR EMA
    101.76

    Trend Hourly Chart
    Sideways

    Hourly Indicators
    Turning up

    13 HR RSI
    53

    14 HR DMI
    +ve

    Daily Analysis
    Consolidation b4 one more rise

    Resistance
    102.36 - May 13 high
    102.14 - Tue's high
    101.89 - Hourly res

    Support
    101.43 - Y'day's low
    101.10 - May 19 low
    100.81 - Last Wed's fresh 3-1/2 month low


    . USD/JPY - 101.74... The greenback weakened on Thur n ratcheted lower fm Australian high of 101.87 to 101.47 in European morning due to broad-based buying of yen. Price briefly fell to a fresh session low of 101.43 in NY morning after mixed U.S. economic data b4 staging a rebound to 101.79.

    . Looking at the hourly n daily charts, although y'day's breach of 101.64 sup signals recent upmove fm last Wed's fresh 3-1/2 month trough at 100.81 has formed a temporary top there, subsequent rebound signals pullback has possibly ended n as long as 101.43 sup holds, upside bias remains for aforesaid upmove to resume, abv 101.98 wud add credence to this view as hourly macd wud have cut abv zero line on such move, then dlr will be en route to next daily chart obj. at 102.36.(May 13 high), n later to 102.86 next week, this is the 'dynamic' 61.8% r of the entire fall fm 104.13 to 100.81, in early Jun, however, as broad outlook remains consolidative, daily res at 103.02 (May's high) wud hold.

    . In view of abv analysis, trading dlr fm long side is still the favoured strategy today n only a daily close below 101.30 wud abort present bullish scenario n risk stronger retreat to 101.00.
    Last edited by AceTraderForex; 01-10-2016 at 11:04 PM.

  9. #9

    Smile AceTraderForex Jun 10: Daily Technical Outlook & Trading Ideals on USD/JPY

    DAILY USD/JPY TECHNICAL OUTLOOK
    Last Update At 09 Jun 2014 23:57GMT

    Trend Daily Chart
    Sideways

    Daily Indicators
    Rising

    21 HR EMA
    102.51

    55 HR EMA
    102.48

    Trend Hourly Chart
    Sideways

    Hourly Indicators
    Neutral

    13 HR RSI
    48

    14 HR DMI
    -ve

    Daily Analysis
    Consolidation b4 one more rise

    Resistance
    103.58 - 1.618 times extn of 100.81-102.14 fm 101.43
    103.02 - May 02 high
    102.80 - Last Wed's 1-month high

    Support
    102.38 - Y'day's low
    102.11 - Last Fri's low
    101.94 - Last Mon's European low


    . USD/JPY - 102.49... Although dlr retreated after an initial marginal gain to 102.65 in Asian morning, price retreated as the release of upbeat Japan GDP boosted demand for yen. Later, dollar weakened to 102.38 in European morning n then rebounded to 102.59 in NY morning b4 moving sideways in quiet NY afternoon.

    . Looking at the hourly n daily charts, dlr's strg rebound fm Fri's low at 102.11 to 102.65 y'day signals pullback fm last Wed's fresh 1-month peak at 102.80 has ended there n as the daily technical indicators are rising, suggesting upside bias remains for recent erratic upmove fm May's 3-1/2 month low at 100.81 to resume n extend to 102.86 n then 103.02, being the 'dynamic' 61.8% r of the early fall fm 104.13-100.81 n May 02 high. Looking ahead, a daily close abv there wud encourage for subsequent headway twd 103.50 (being 80.9% r) but as mentioned in previous updates, we're holding our view the broad sideways move fm 2014 5-year peak at 105.45 (Jan) is unfolding into a 'triangle' n pivotal res at 104.13 (possible B-leg top) wud continue to hold this month.

    . Today, trading dlr fm long side for gain twd 103.02 is recommended n only below 102.11 wud confirm temporary is made n risk 101.57 (61.8% r fm 100.81).

    Last edited by AceTraderForex; 01-10-2016 at 11:04 PM.

  10. #10

    Smile AceTraderForex Jun 18: Daily Technical Outlook & Trading Ideals on USD/JPY

    DAILY USD/JPY TECHNICAL OUTLOOK

    Last Update At 17 Jun 2014 23:52GMT

    Trend Daily Chart
    Sideways

    Daily Indicators
    Neutral

    21 HR EMA
    102.10

    55 HR EMA
    102.02

    Trend Hourly Chart
    Near term up

    Hourly Indicators
    Rising

    13 HR RSI
    67

    14 HR DMI
    67

    Daily Analysis
    Consolidation with upside bias

    Resistance
    102.80 - Jun 04 high
    102.65 - Mon's high
    102.42 - Last Tue's NY high

    Support
    101.90 - Y'day's European low
    101.61 - Last Fri's low
    101.43 - May 29 low


    . USD/JPY - 102.20... Dlr found renewed buying at 101.82 in Australia on Tue n climbed to 102.07 in Asia as rise in the Nikkei boosted risk appetite. Later, dollar ratcheted higher in NY morning after release of higher-than-expect ed U.S. CPI data n rose to session high of 102.24 b4 easing in NY afternoon.

    . Looking at the hourly n daily charts, y'day's break of 102.14 (last Fri's
    high) suggests correction fm Jun's peak at 102.80 has ended earlier at 101.61 last Thur n choppy trading with mild upside bias remains, abv res 102.42 anytime wud add credence to this view n re-test of 102.80 wud follow. Looking ahead, break of 102.80 wud confirm upmove fm May's 3-1/2 month trough at 100.81 has resumed n extend twd 103.02, being the 'dynamic' 61.8% r of the fall fm 104.13-100.81, a daily close abv there wud encourage for further headway twd 103.50, however, as mentioned in previous updates, we're holding our view the broad side ways move fm 2014 5-year peak at 105.45 (Jan) is unfolding into a 'triangle' n pivotal res at 104.13 (possible B-leg top) wud continue to hold this month.

    . Today, trading dlr fm long side for gain to 102.55 is recommended n only a daily close below 101.43 (May low) wud abort bullishness on dlr n risk 101.10.

    Last edited by AceTraderForex; 01-10-2016 at 11:02 PM.

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