[B]
DAILY MARKET OUTLOOK on Major USD/JPY[/B]
Update Time: [B]05 Aug 2016[/B] [I]09:21 GMT
[/I]
USD/JPY - 101.10
Although dollar’s selloff below last Fri’s 101.97 low to a fresh 3-week trough of 100.68 on Wednesday signals correction from June’s 29-month trough at 99.00 has ended earlier at 107.49 (July), subsequent rebound to 101.67 yesterday suggests choppy trading would continue ahead of today’s key U.S. non-farm payrolls, however, price should falter below 102.83 (Tuesday’s high) and bring another fall later.
On the downside, below 100.68 would yield weakness towards pivotal support at 100.00 but only a daily close below there would retain bearishness for a re-test of 99.00.
[B]DAILY MARKET OUTLOOK on Major USD/JPY[/B]
Update Time: [B]11 Oct 2016[/B] [I]09:12 GMT[/I]
USD/JPY - 103.94
Despite the greenback’s fall to 102.81 yesterday, subsequent rally to 103.78 and intra-day break of this level to 104.07 confirms the pullback from last Thursday’s high at 104.16 has ended there and consolidation with upside bias remains for recent upmove to resume and above 104.16 would bring re-test of September’s high at 104.32, break would yield 104.87/90 later.
On the downside, only below 102.81 would indicate a temporary top has been made and risk would increase for a stronger retracement to 102.46/50.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]24 Oct 2016[/B] [I]09:18 GMT[/I]
USD/JPY - 103.91
The greenback’s sideways trading after rebound from last Wednesday’s low at 103.17 to 104.20 last Friday suggests the pullback from October’s 2-month peak at 104.64 has ended there and consolidation with upside bias would be seen for gain towards 104.48, above would confirm this view and yield re-test of said resistance. Above would extend recent erratic upmove towards 105.10/20 before prospect of a much-needed correction.
On the downside, only below 103.17 would revive bearishness for a stronger retracement towards 102.81.
However, price would remain above 101.84 (previous resistance, now support).
[B]DAILY MARKET OUTLOOK
[/B]
Update Time: [B]01 Nov 2016[/B] [I]08:31 GMT[/I]
USD/JPY - 105.10
The greenback’s rise above Tuesday’s high at 104.87 to a fresh 3-month high at 105.53 Friday suggests recent erratic upmove from August’s trough at 99.54 has once again resumed and consolidation with upside bias would be seen for gain towards 105.70/80.
However, near term loss of momentum would keep price below 106.00 today and yield a much-needed correction later.
On the downside, only below 104.30 would indicate a temporary top has been made and risk would increase for a stronger retracement towards 104.02 later next week.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]25 Nov 2016[/B] [I]09:26 GMT[/I]
USD/JPY - 112.80
Despite the greenback’s intra-day resumption of erratic medium-term uptrend to a fresh 8-month peak at 113.90, subsequent retreat suggests a temporary top has been made and a much-awaited correction has occured, downside bias remains for retracement towards 112.35, however, as broad-outlook remains consolidative, reckon 111.91 would remain intact and yield recovery.
On the upside, only above 113.90 would revive bullishness and extend said move marginally before prospect of retreat due to over bought condition.
DAILY MARKET OUTLOOK
Update Time: 30 Nov 2016 09:15 GMT
USD/JPY - 112.80
Despite the greenback’s rally last week to a fresh 8-month 113.90 on Friday, subsequent selloff to as low as 111.36 today suggests a temporary top has been made and consolidation with downside bias would be seen for stronger retracement towards 110.89/90, however, near term loss of momentum would prevent steep fall beyond there and risk would increase for a rebound later this week.
On the upside, only above 112.98 would indicate the first leg of correction has ended and turn outlook bullish for gain towards 113.31, then to 113.53.
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[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]06 Jan 2017[/B] [I]09:11 GMT[/I]
USD/JPY - 116.21
Despite the greenback’s intra-day resumption of decline from December’s 10-1/2 month peak at 118.66 to 115.07 ahead of Asian open, subsequent rebound suggests a temporary low has been made and choppy trading with upside bias would be seen ahead of today’s release of U.S. jobs report and gain towards 116.78/80 is likely.
However, 117.23 should remain intact and yield another retreat later.
On the downside, only below 115.07 would revive bearishness for a stronger retracement of medium-term decline towards 114.74, then 114.30 early next week.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]15 Feb 2017[/B] [I]09:12 GMT[/I]
USD/JPY - 114.50
The greenback’s rise above Monday’s high at 114.17 to 114.49 yesterday on Federal Reserve Chair Yellen’s hawkish testimony and intra-day break of this resistance suggests the upmove from last Tuesday’s 7-week trough at 111.60 remains in progress and upside bias would be seen for gain towards 114.90/93.
However, near term loss of momentum would prevent strong move beyond there and reckon 115.13 would remain intact.
On the downside, only below 113.87 would indicate a temporary top has been made and risk would increase for a much-needed retracement towards 113.25.
DAILY MARKET OUTLOOK
Update Time: 23 Feb 2017 09:3 GMT
USD/JPY - 113.23
The greenback’s rebound from last Friday’s low at 112.62 suggests the pullback from last Wednesday’s high at 114.96 has ended there and consolidation with upside bias remains for gain towards 114.17, then 114.50 later this week, however, as broad-outlook remains consolidative, reckon aforesaid upper level would remain intact on first testing and yield retreat.
On the downside, only below 112.62 would revive bearishness for a stronger retracement of early rise from February’s trough at 111.60 towards 112.06/08.
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[B]DAILY MARKET OUTLOOK [/B]
Update Time: [B]28 Feb 2017[/B] [I]09:26 GMT[/I]
USD/JPY - 112.40
The greenback’s rebound from last Friday’s low at 112.62 suggests the pullback from last Wednesday’s high at 114.96 has ended there and consolidation with upside bias remains for gain towards 114.17, then 114.50 later this week.
However, as broad-outlook remains consolidative, reckon aforesaid upper level would remain intact on first testing and yield retreat.
On the downside, only below 112.62 would revive bearishness for a stronger retracement of early rise from February’s trough at 111.60 towards 112.06/08.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]23 Mar 2017[/B] [I]09:02 GMT[/I]
USD/JPY - 111.19
The greenback’s selloff yesterday and subsequent break of February’s trough at 111.60 signals the erratic decline from December 2016 peak at 118.66 has finally resumed and consolidation with downside bias remains for further weakness towards 110.50/60, however, as this move is losing downward momentum, reckon support at 110.27 would remain intact and yield a much-needed correction later.
On the upside, only above 112.26 (previous support) would indicate a temporary low has been made and risk stronger retracement towards 112.90.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]29 Mar 2017[/B] [I]09:01 GMT[/I]
USD/JPY - 111.07
Despite the greenback’s selloff to a fresh 4-month trough 110.11 on Monday after U.S. President Trump’s failure to push through his healthcare bill in Congress, subsequent strong rebound to 111.32 today suggests medium-term decline has made a temporary low there and choppy trading with upside bias would be seen for retracement towards 111.58.
However, near term loss of momentum would keep price below 111.95.
On the downside, only below 110.63 would indicate aforesaid correction has ended instead and turn outlook bearish for a re-test of 110.11, break would extend towards 109.50/60.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]31 Mar 2017[/B] [I] 0:35 GMT[/I]
USD/JPY - 111.88
Despite the greenback’s selloff to a fresh 4-month trough 110.11 on Monday after U.S. President Trump’s failure to push through his healthcare bill in Congress, subsequent strong rebound to 112.20 today suggests medium-term decline has made a temporary low there and choppy trading with upside bias would be seen for retracement towards 112.50/60.
However, near term loss of momentum would keep price below 112.90.
On the downside, only below 110.63 would indicate aforesaid correction has ended instead and turn outlook bearish for a re-test of 110.11, break would extend towards 109.50/60.
Data to be released later:
UK house prices, GDP, current account, Germany retail sales, unemployment rate, France PPI, CPI, EU CPI, core CPI, Italy CPI, HICP, PPI.
U.S. PCE, personal income, personal spending, Chicago PMI, consumer sentiment and Canada GDP MM - Jan
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]05 Apr 2017[/B] [I]09:43 GMT[/I]
USD/JPY - 110.69
Although dollar’s cross-inspired decline from 112.20 (Friday) to 110.27 yesterday suggests early correction from March’s fresh 4-month low at 110.11 has ended, intra-day cross-inspired rebound to 110.91 suggests consolidation is in store, as long as 1111.00/10 holds, downside bias remains for re-test of 110.11, break needed to extend weakness to 109.80/90.
Only a daily close above 111.13 ‘prolongs’ choppy sideways swings and risks another rise towards 111.59.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]20 Apr 2017[/B] [I]09:01 GMT[/I]
USD/JPY - 109.03
Despite the greenback’s resumption of recent losing streak to a fresh 5-month trough at 108.13 on Monday, subsequent rally to 109.22 yesterday suggests recent erratic downtrend has made a minor low there and choppy trading with upside bias would be seen for retracement towards 109.39, then to 109.85/86.
However, as broad-outlook remains consolidative, reckon 110.14 (previous support, now resistance) would remain intact and yield retreat.
On the downside, only below 108.13 would revive bearishness for one more fall to 108.30 but as this move is losing downward momentum, reckon 108.13 would hold and bring a much-needed correction later this week.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]25 Apr 2017[/B] [I]09:11 GMT[/I]
USD/JPY - 110.40
Despite yesterday’s gap-up open to 110.61 in New Zealand due to active buying in euro/yen cross on news of a victory by France’s centrist candidate Macron in the first round of election, subsequent retreat suggests the correction from April’s 5-month trough at 108.13 has possibly ended there and choppy trading with downside bias would be seen for a stronger retracement to 109.46/50, however, support at 108.89 should remain intact and yield rebound.
On the upside, only above 110.61 would revive bullishness for one more ris towards 111.00/02 before prospect of another fall due to near term loss of momentum.
[B]Data to be released today: [/B]
France business climate, UK PSNB, PSNCR, U.S. redbook, home price, new home sales and Richmond Fed manufacturing survey.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]02 May 2017[/B] [I]09:11 GMT[/I]
USD/JPY - 112.12
The greenback’s rise to 111.92 yesterday and intra-day break of aforesaid resistance signals upmove from April’s 5-month trough at 108.13 remains in progress and consolidation with upside bias remains for gain towards 112.40/50.
However, resistance at 112.73 should remain intact ahead of the Federal Reserve’s rate decision on Wednesday and yield correction.
On the downside, only below 111.20 would indicate a temporary top has been made and risk stronger retracement to 110.80/90 but 110.61 (previous resistance, now support) would remain intact and yield rebound.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]10 May 2017[/B] [I] 09:20 GMT[/I]
USD/JPY - 113.90
The greenback’s rise above Monday’s fresh 7-week peak at 113.10 to 114.32 yesterday on active cross-selling of yen signals erratic upmove from April’s 5-month trough at 108.13 remains in progress and marginal gain from here would be seen after consolidation.
However, loss of momentum would prevent strong move beyond there and reckon 114.60/70 would limit upside and bring a much-needed correction later this week.
On the downside, only a daily close below 112.40 would indicate a temporary top has been made and yield stronger retracement of aforesaid rise to 112.09/10, then 111.70/80 before prospect of a recovery.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]17 May 2017[/B] [I]09:26 GMT[/I]
USD/JPY - 112.50
The greenback’s selloff yesterday and subsequent break of Monday’s low at 113.13 signals decline from last Wednesday’s 8-week peak at 114.37 remains in progress and consolidation with downside bias remains for weakness towards 112.09/10.
However, near term loss of momentum would prevent sharp move beyond there and risk would increase of a much-needed rebound later.
On the upside, only above 113.13 would indicate the first leg of correction has ended and turn outlook bullish for gain to 113.40/50 but resistance at 113.85 should remain intact, bring retreat.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]24 May 2017[/B] [I]09:38 GMT[/I]
USD/JPY - 111.82
The greenback’s recent swings after last Thursday’s rebound from 110.24 to 111.73 are likely to continue and intra-day rebound from 110.86 has retained bullishness but above 111.73 is needed to yield stronger retracement of decline from May’s peak at 114.37 towards 112.24/30, however, resistance at 112.94 should remain intact this week and yield retreat.
On the downside, only below 110.53 would confirm the recovery from 110.24 has ended instead and turn outlook bearish for weakness to 110.24, break, 110.00 later.
[B]Data to be released on Wednesday: [/B]
Germany consumer sentiment, Swiss industrial production, Italy trade balance, U.S. monthly home price, existing home sales and Canada BoC rate decision and Fed minutes.