[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]12 Jan 2016[/B] 08:18 GMT
[B]USD/JPY - 117.36[/B]
Dollar’s rally after an initial selloff to a fresh 4-1/2 month trough at 116.69 ahead of Asian open yesterday signals recent decline has made a temporary low there and despite intra-day retreat after testing New York resistance at 118.03, reckon support at 117.19 would hold and upside bias remains for another leg of correction to take place towards 118.50/60 later.
On the downside, only below 116.69 would confirm recent decline has once again resumed and extend weakness towards daily chart objective at 116.18 (2015 August low).
[B]DAILY MARKET OUTLOOK[/B]
Update Time:[B] 14 Jan 2016[/B] 09:46 GMT
[B]USD/JPY - 117.87[/B]
Although dollar’s cross-inspired decline from yesterday’s 118.38 high to as low as 117.30 in Asian morning suggests early correction from Monday’s fresh 4-1/2 month trough at 116.69 has ended, intra-day strong bounce to 118.18 in Europe due to recovery in Asian equities signals choppy sideways trading would continue.
As long as 118.38 holds, downside bias remains for subsequent weakness to 1170…0/10 but 116.69 should remain intact and only above 118.38 would risk stronger correction of recent decline to 118.55/60, however, loss of upward momentum would cap price below daily res at 118.85.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]21 Jan 2016[/B] [I] 08:44 GMT
[/I]
[B]USD/JPY - 116.93[/B]
Despite yesterday’s resumption of recent downtrend to a 1-year bottom of 115.97 in Europe, subsequent erratic rise to 117.05 in New York due to recovery in the Dow, then intra-day cross-inspired rally to 117.48 in Asia confirms temporary low has been made and 2-3 days of choppy consolidation is in store.
As dollar has rebounded after a strong retreat to 116.47 in early European morning due to renewed weakness in Asian equities after initial recovery, near term upside bias is retained for a long-awaited minor correction to 117.69/71 but reckon res at 118.18 should cap upside and yield another fall later today or tomorrow.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]27 Jan 2016[/B] [I]09:36 GMT[/I]
[B]USD/JPY - 118.22[/B]
Despite the greenback rally from last Wednesday’s fresh 1-year trough at 115.97 to 118.88 on Friday, subsequent retreat suggests the first leg of correction has ended and consolidation with downside bias would be seen for weakness towards 117.54, below would add credence to this view and extend towards 117.08.
However, support at 116.47 should remain intact and yield rebound.
On the upside, only above 118.17 (previous support, now resistance) would indicate pullback has ended and turn outlook bullish for gain to 118.34/40.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]28 Jan 2016[/B] [I] 08:31 GMT[/I]
[B]USD/JPY - 118.89[/B]
The greenback’s rally yesterday and subsequent breach of last Friday’s high at 118.88 signals the corrective upmove from last Wednesday’s fresh 1-year trough at 115.97 has once again resumed and consolidation with upside bias would be seen for gain towards 119.08/10, then 119.17/20, however, loss of momentum would keep price below 119.46/50 today and bring retreat later.
On the downside, only below 117.66 would indicate a temporary top has been made and turn outlook bearish for a stronger retracement towards 117.30/40.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]05 Feb 2016[/B] [I]08:32 GMT[/I]
[B]USD/JPY - 116.92[/B]
The greenback’s sharp selloff to as low as 116.53 yesterday on dollar’s broad-based selloff confirms recent upmove has formed a temporary top at last Friday’s 1-month peak at 121.70 and consolidation with downside bias would be seen for weakness towards 116.10/20, however, over sold condition would prevent steep fall below there and reckon price would hold well above support at 115.97.
On the upside, only above 119.01 would indicate aforesaid correction has ended and turn outlook bullish for stronger gain to 119.40/50.
DAILY MARKET OUTLOOK
Update Time: 24 Feb 2016 08:26 GMT
USD/JPY - 112.07
Dollar’s selloff to 111.77 yesterday, then intra-day fall below this level strongly suggests the first leg of correction from February’s 15-month trough at 110.99 has ended at 114.88 last Tuesday and consolidation with downside bias would be seen for weakness towards 111.30/40, however, near term loss of momentum would keep price above support at 111.10/15.
On the upside, only above 113.05 would indicate aforesaid pullback is over instead and turn outlook bullish for stronger gain towards 113.39, then 113.62.
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DAILY MARKET OUTLOOK
Update Time: 29 Feb 2016 09:08 GMT
USD/JPY - 113.04
Despite the greenback’s selloff to a fresh 2-week trough at 111.04, subsequent strong rebound suggests further choppy trading above February’s low at 110.99 would continue with upside bias and gain towards 114.30/40 is likely to be seen, however, as broad outlook remains consolidative, reckon resistance at 114.88 should remain intact and bring another fall later today or early tomorrow.
On the downside, only below 111.04 would revive bearishness for a re-test of 110.99, break would confirm recent downtrend has resumed and yield further weakness towards 110.40/50.
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DAILY MARKET OUTLOOK
Update Time: 01 Mar 2016 09:19 GMT
USD/JPY - 113.11
Despite the greenback’s selloff to a fresh 2-week trough at 111.04, subsequent strong rebound suggests further choppy trading above February’s low at 110.99 would continue with upside bias and gain towards 114.30/40 is likely to be seen, however, as broad outlook remains consolidative, reckon resistance at 114.88 should remain intact and bring another fall later today or early tomorrow.
On the downside, only below 111.04 would revive bearishness for a re-test of 110.99, break would confirm recent downtrend has resumed and yield further weakness towards 110.40/50.
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DAILY MARKET OUTLOOK
Update Time: 03 Mar 2016 08:31 GMT
USD/JPY - 113.94
Despite the greenback’s selloff to a fresh 2-week trough at 111.04, subsequent strong rebound suggests further choppy trading above February’s low at 110.99 would continue with upside bias and marginal gain from here is likely to be seen, however, as broad outlook remains consolidative, reckon resistance at 114.88 should remain intact and bring another fall later today or early tomorrow.
On the downside, only below 111.04 would revive bearishness for a re-test of 110.99, break would confirm recent downtrend has resumed and yield further weakness towards 110.40/50.
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DAILY MARKET OUTLOOK
Update Time: 07 Mar 2016 09:05 GMT
USD/JPY - 113.62
Despite the greenback’s rally to 114.56 last Tuesday, subsequent sharp retreat to 113.12 last Friday on poor U.S. wage growth data suggests further choppy trading below February’s high at 114.88 would continue with mild downside bias and marginal weakness towards 112.80/90 is likely to be seen.
However, as broad-outlook remains consolidative, reckon price would hold well above support at 112.38 and yield rebound.
On the upside, only above 114.56 would revive bullishness for a re-test of 114.88, break would confirm erratic upmove from 110.99 has once again resumed and extend towards 115.30/40.
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DAILY MARKET OUTLOOK
Update Time: 22 Mar 2016 09:07 GMT
USD/JPY - 111.67
The greenback’s selloff last week and subsequent breach of February’s trough at 110.99 to 110.67 last Thursday signals erratic medium-term decline has once again resumed and consolidation with downside bias remains for weakness towards 110.40/43, however, near term loss of momentum would prevent steep fall below there and shift risk to the upside for a stronger correction.
On the upside, only above 112.63 would indicate a temporary low has been made and turn outlook bullish for a much-needed correction towards 112.96/00.
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DAILY MARKET OUTLOOK
Update Time: 23 Mar 2016 09:08 GMT
USD/JPY - 112.57
Despite the greenback’s selloff to as low as 110.67 last Thursday, subsequent strong rebound suggests MT decline has possibly made a temporary low there and consolidation with upside bias would be seen for gain towards 112.96, then 113.46/50.
However, near term loss of momentum would prevent strong move beyond there and risk would increase for a much-needed retreat later.
On the downside, only below 111.38 would indicate aforesaid correction has ended instead and turn outlook bearish for weakness towards 111.22, then 110.99.
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DAILY MARKET OUTLOOK
Update Time: 29 Mar 2016 08:21 GMT
USD/JPY - 113.65
U.S. dollar’s intra-day break of yesterday’s 113.69 high confirms near term upmove from last March’s 16-month bottom has once again resumed and as long as 113.15 support holds, further gain to 114.00/10 is envisaged, however, loss of upward momentum should cap price below daily res at 114.45 today and yield retreat later.
On the downside, only a daily close below 113.15 would signal a temporary top has possibly been made and risk weakness towards 112.20/37.
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DAILY MARKET OUTLOOK
Update Time: 30 Mar 2016 08:16 GMT
USD/JPY - 112.11
Despite dollar’s initial rise to 113.80 in European morning yesterday, subsequent intra-day selloff to 112.61 in New York afternoon on dovish remarks from Fed’s Yellen and today’s breach of this support confirms upmove from March’s 16-month trough at 110.67 has made a temporary top there, consolidation with downside bias remains for stronger retracement to 111.87 (61.8%) but near term o/sold condition should keep price well above support at 111.38 today, yield rebound later.
On the upside, only above 112.81 would confirm 1st leg of correction over and bring gain to 113.15/24 but resistance at 113.46 should remain intact.
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DAILY MARKET OUTLOOK
Update Time: 01 Apr 2016 08:09 GMT
USD/JPY - 112.32
Intra-day dollar’s weakness to 112.06 due to active yen-buying on the back of weakness in the Nikkie suggests decline from this week’s 113.80 peak to correct upmove from Mar’s 16-month trough at 110.67 would resume, below 112.02 would pressure price to 111.87 (61.8% r), loss of momentum should keep price above 111.37.
Only a daily close above 112.68 (reaction high from 112.02) would risk stronger retracement of aforesaid fall to 113.15/25 before prospect of another decline next week.
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DAILY MARKET OUTLOOK
Update Time: 05 Apr 2016 09:02 GMT
USD/JPY - 110.48
Dollar’s intra-day cross-inspired breach of March’s 16-month bottom at 110.67 confirms MT downtrend from 2015 peak at 125.86 has resumed and further weakness to 110.09 and then 109.50/60 would be seen.
However, loss of momentum should keep price well above 109.00 today and yield rebound later.
On the upside, only a daily close above 111.06/10 would indicate a temporary low has been made and yield retracement to 111.37, then 111.80 before prospect of a retreat.
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DAILY MARKET OUTLOOK
Update Time: 06 Apr 2016 09:17 GMT
USD/JPY - 110.32
Dollar’s cross-inspired selloff to a fresh 17-month trough at 109.92 confirms MT downtrend from 2015 peak at 125.86 has resumed and further weakness to 109.80 and then 109.50/60 would be seen.
However, loss of momentum should keep price well above 109.00 ahead of FOMC minutes later today.
On the upside, only a daily close above 111.06/10 would indicate a temporary low has been made and yield retracement to 111.37, then 111.80 before prospect of a retreat.
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DAILY MARKET OUTLOOK
Update Time: 08 Apr 2016 09:08 GMT
USD/JPY - 108.99
Despite dollar’s selloff to a fresh 17-month trough at 107.67 in New York morning yesterday, subsequent rebound to 108.46, then 109.10 in European morning today signals MT downtrend has made a temporary low there and consolidation with upside bias would be seen.
However, reckon 109.50/60 would limit upside and yield another selloff later today or early next week.
On the downside, below 108.07 support would confirm correction over and bring re-test of 107.67, break would extend weakness towards 107.10/20.
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DAILY MARKET OUTLOOK
Update Time: 12 Apr 2016 08:23 GMT
USD/JPY - 108.18
Despite dollar’s selloff to a fresh 17-month trough at 107.63 in Asian session on Monday, subsequent intra-day rebound to 108.44 in New York morning suggests MT downtrend has possibly made a temporary bottom there and a few days of choppy sideways trading would be seen.
However, as long as resistance at 109.10 holds, bearishness remains for another selloff later this week.
On the downside, below 107.63 would yield further weakness towards 107.20/30 before correction occurs due to loss of momentum.
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