AceTraderFx Jun 01: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 01 Jun 2017 09:15 GMT
USD/JPY - 111.06
Despite intra-day selloff to 110.49 in New York yesterday, subsequent rebound suggests further choppy trading above May’s trough at 110.24 would continue with upside bias and gain towards resistance at 111.47 is likely.
However, as broad-outlook remains consolidative, reckon 112.13 (reaction high) would remain intact this week and yield retreat.
On the downside, only below 110.49 would revive bearishness for weakness towards 110.24, daily close below there would signal recent decline has resumed and extend to 110.00.
AceTraderFx Jun 05: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 05 Jun 2017 09:07 GMT
USD/JPY - 110.48
Despite intra-day selloff to 110.33 in New York on Friday after poor U.S. jobs report, subsequent rebound suggests further choppy trading above May’s trough at 110.24 would continue with upside bias and gain towards resistance at 11188 is likely, however, as broad-outlook remains consolidative, reckon 111.48 would remain intact this week and yield retreat.
On the downside, only below 110.33 would revive bearishness for weakness towards 110.24, daily close below there would signal recent decline has resumed and extend to 110.00.
Data to be released today:
Italy services PMI, France services PMI, Germany services PMI, EU services PMI, sentix index, UK services PMI.
U.S. labour costs, productivity, services PMI, factory orders and ISM non-manufacturing PMI on Monday.
AceTraderFx Jun 08: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 08 Jun 2017 09:41 GMT
USD/JPY - 109.89
Despite yesterday’s selloff to a fresh 6-week trough at 109.12, subsequent strong rebound to 110.01 at Asian open today suggests the erratic decline from May’s peak at 114.37 has made a temporary bottom there and choppy trading with upside bias would be seen for gain towards 110.24 (previous support, now resistance), however, near term loss of momentum would keep price below 110.40/50 and yield retreat.
On the downside, only below 109.12 would revive bearishness for further weakness towards 108.89/90 but over sold condition would prevent steep fall beyond there and risk would increase for a correction later.
AceTraderFx Jun 14: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
14 Jun 2017 06:15GMT
DAILY USD/JPY OUTLOOK - 110.07
Although dlr’s cross-inspired decline from 110.81 (Friday) to 109.63 yesterday signals 1st leg of correction from last Wed’s 6-week trough at 109.12 has ended, subsequent bounce to 110.27 on Tuesday would head to 110.44/48 but above needed to extend towards 110.81.
Buy again for 110.75 and only below 109.63 risks weakness to 109.38, break yields re-test of 109.12.
U.S. will release a slew of key eco. data ahead of Fed rate decision starting with MBA mortgage applications, CPI, retail sales, real weekly earnings.
The Fed rate decision is at 18:00GMT followed by Fed Chair Yellen’s press conference at 18:30GMT.
AceTraderFx Jun 13: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update: 16 Jun 2017 09:27GMT
DAILY USD/JPY OUTLOOK - 111.14
Dlr’s impressive rally in post-FOMC 7-week low at 108.83 to as high as 111.27 today confirms decline from May’s 114.37 has made a low there and upside bias remains for gain to 111.60 (50% r).
However, reckon 112.13 should hold and yield retreat later.
Raise long entry for this move and only below 110.34 risk stronger retrace to 109.87 before another rise
Pay attention to a slew of U.S. eco. data later in the day starting with building permits, housing starts and University of Michigan consumer confidence, if actual readings of the latter 2 data come out better than street forecast, then the greenback will head higher in New York morning.
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AceTraderFx Jun 26: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 26 Jun 2017 09:20 GMT
USD/JPY - 111.63
The greenback’s strong rebound from last Thursday’s low at 110.95 suggests the pullback from last Tuesday’s high at 111.79 has ended there and consolidation with upside bias would be seen for upmove from June’s 7-week trough at 108.83 to resume and yield re-test of said resistance.
Break would extend towards 112.10/13 before prospect of a correction due to loss of momentum.
On the downside, only below 110.95 would abort daily bullishness and risk stronger retracement of aforesaid upmove towards 110.66, then 110.34/35.
AceTraderFx Jun 28: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 28 Jun 2017 09:33 GMT
USD/JPY - 111.95
The greenback’s strong rebound from last Thursday’s low at 110.95 suggests the pullback from last Tuesday’s high at 111.79 has ended there and consolidation with upside bias would be seen for upmove from June’s 7-week trough at 108.83 to resume and yield re-test of said resistance, break would extend towards 112.10/13 before prospect of a correction due to loss of momentum.
On the downside, only below 110.95 would abort daily bullishness and risk stronger retracement of aforesaid upmove towards 110.66, then 110.34/35.
AceTraderFx Jun 30: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 30 Jun 2017 09:36 GMT
USD/JPY - 112.00
The greenback’s intra-day break of Tuesday’s high at 112.47 suggests erratic upmove from June’s trough at 108.82 has once again resumed and consolidation with upside bias remains for gain towards 113.00, then 113.13 (previous support), however, near term loss of momentum would prevent strong gain beyond there and risk would increase for a much-needed correction early next week.
On the downside, only below 111.79 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.37/40.
Data to be released on Friday:
Germany retail sales, France consumer spending, CPI, UK consumer confidence, GDP, current account, EU CPI, core CPI.
Canada GDP, PPI, U.S. PCE, personal spending, Chicago PMI and consumer sentiment.
AceTraderFx July 07: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 07 Jul 2017 09:26 GMT
USD/JPY - 113.74
The greenback’s intra-day break of Wednesday’s high at 113.69 suggests erratic upmove from June’s trough at 108.82 has once again resumed and consolidation with upside bias remains ahead of today’s non-farm payrolls release for gain towards 113.85/90, then 114.10/20, however, near term loss of momentum would prevent strong gain beyond there and risk would increase for a much-needed correction early next week.
On the downside, only below 111.79 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.37/40.
Data to be released on Friday:
Australia construction index, Japan leading indicator, Swiss unemployment rate, Germany industrial output, France budget balance, trade balance, imports, exports, Italy retail sales, UK construction output, industrial output, manufacturing output, goods trade balance, Canada employment change, unemployment rate, Ivey PMI, U.S. non-farm payrolls, private payrolls, average earnings and unemployment rate.
AceTraderFx July 12: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 12 Jul 2017 09:37 GMT
USD/JPY - 113.42
The greenback’s intra-day break of Friday’s high at 114.18 suggests erratic upmove from June’s trough at 108.82 has once again resumed and consolidation with upside bias remains for a re-test of May’s peak at 114.37, break there would retain bullishness for 114.50/60, however, loss of momentum would prevent sharp move beyond there and risk would increase for a much-needed correction later this week.
On the downside, only below 111.79 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.37/40.
AceTraderFx July 19: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 19 Jul 2017 09:02 GMT
USD/JPY - 112.14
The greenback’s fall below last Friday’s low at 112.27 to 111.69 yesterday signals decline from July’s near 4-month peak at 114.49 remains in progress and consolidation with downside bias remains for weakness towards 111.31 (50% retracement of rise from 108.13).
However, near term loss of momentum would keep price above 110.95 this week and yield a much-needed correction later.
On the upside, only above 112.87 would indicate a temporary low has been made and risk would increase for a stronger gain to 113.58, then 113.73.
U.S. will later release mortgage applications, building permits n housing starts, if these housing data come in weaker than street forecast, then usd will be sold again b4 prospect of another recovery.
AceTraderFx July 20: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 20 Jul 2017 09:08 GMT
USD/JPY - 112.28
The greenback’s fall below last Friday’s low at 112.27 to 111.69 yesterday signals decline from July’s near 4-month peak at 114.49 remains in progress and consolidation with downside bias remains for weakness towards 111.31 (50% retracement of rise from 108.13).
However, near term loss of momentum would keep price above 110.95 this week and yield a much-needed correction later.
On the upside, only above 112.87 would indicate a temporary low has been made and risk would increase for a stronger gain to 113.58, then 113.73.
Later in the day, U.S. will release weekly initial jobless claims. Philly Fed survey and then leading indicators.
AceTraderFx July 25: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 25 Jul 2017 09:33 GMT
USD/JPY - 111.28
The greenback’s intra-day fall below last Friday’s low at 111.02 to 110.64 yesterday signals decline from July’s near 4-month peak at 114.49 remains in progress and consolidation with downside bias remains for weakness towards 110.56 (61.8% retracement of rise from 108.13).
However, near term loss of momentum would keep price above 109.63 this week and yield a much-needed correction later.
On the upside, only above 112.42 would indicate a temporary low has been made and risk would increase for a stronger gain to 112.87, then 113.58.
The FOMC will start its 2-day meeting today and as no press conference is scheduled, market wide expects it to be a non-event, so dlr is unlikely to make further upside gain.
Pay attention to release of a slew of U.S. data later in the day starting with Redbook retail sales, CS home price, consumer confidence and Richmond Fed mfg index.
AceTraderFx July 28: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 28 Jul 2017 09:07 GMT
USD/JPY - 111.10
Although the greenback has staged a recovery after Wednesday’s selloff from a New York high at 112.20 to 110.78 in Asia yesterday on the back of yesterday’s slightly dovish Federal Reserve monetary policy statement and minor consolidation would be seen, as said move signals recovery from Monday’s low at 110.64 has ended there, downside bias remains for decline from July’s peak at 114.49 to resume and yield re-test of said support, break, 110.20/24 later.
On the upside, only above 111.72 (previous support) would abort daily bearish outlook and risk stronger gain towards 112.08, then 112.20 again.
On the eco. data front, France will release prel. GDP, CPI n consumer spending, then EU will release consumer confidence, business climate, eco. n industrial sentiment n last but least, at 12:00GMT, Germany will release CPI n HICP data.
Pay attention to release of key U.S. prel. Q2 GDP, PCE n employment cost at 12:30GMT, then University of Michigan July’s consumer confidence. Minneapolis Fed President Kashkari (voter) will deliver at speech at townhall event at 17:20GMT.
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AceTraderFx Aug 01: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 01 Aug 2017 09:35 GMT
USD/JPY - 110.24
Although the greenback has staged a recovery after Wedesday’s selloff from a New York high at 112.20 to 110.78 in Asia yesterday on the back of yesterday’s slightly dovish Federal Reserve monetary policy statement and minor consolidation would be seen, as said move signals recovery from Monday’s low at 110.64 has ended there.
Downside bias remains for decline from July’s peak at 114.49 to resume and yield re-test of said support, break, 110.20/24 later.
On the upside, only above 111.72 (previous support) would abort daily bearish outlook and risk stronger gain towards 112.08, then 112.20 again.
Pay attention release of a slew of U.S. data in the day starting with June personal spending, personal income personal consumption expenditure, Redbook sales, July Markit mfg PMI, ISM mfg PMI and June construction spending.
If July PMIs come in weaker than forecast, expect another round of usd selling.
AceTraderFx Aug 02: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 02 Aug 2017 09:01 GMT
USD/JPY - 110.81
Although the greenback has staged a recovery after Wednesday’s selloff from a New York high at 112.20 to 110.78 in Asia yesterday on the back of yesterday’s slightly dovish Federal Reserve monetary policy statement and minor consolidation would be seen, as said move signals recovery from Monday’s low at 110.64 has ended there, downside bias remains for decline from July’s peak at 114.49 to resume and yield re-test of said support, break, 110.20/24 later.
On the upside, only above 111.72 (previous support) would abort daily bearish outlook and risk stronger gain towards 112.08, then 112.20 again.
Data to be released later on Wednesday:
U.K. BRC shop price index, Swiss consumer confidence, retail sales, manufacturing PMI, EU Non-monetary policy ECB meeting, PPI, U.K. Markit construction PMI, and U.S. MBA mortgage application, ADP employment change, ISM NY index.
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AceTraderFx Aug 03: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 03 Aug 2017 09:12 GMT
USD/JPY - 110.71
Although the greenback has staged a recovery after Wednesday’s selloff from a New York high at 112.20 to 110.78 in Asia yesterday on the back of yesterday’s slightly dovish Federal Reserve monetary policy statement and minor consolidation would be seen, as said move signals recovery from Monday’s low at 110.64 has ended there.
Downside bias remains for decline from July’s peak at 114.49 to resume and yield re-test of said support, break, 110.20/24 later.
On the upside, only above 111.72 (previous support) would abort daily bearish outlook and risk stronger gain towards 112.08, then 112.20 again.
AceTraderFx Aug 04: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 04 Aug 2017 09:45GMT
USD/JPY - 110.09
Although price has recovered after intra-day marginal break of yesterday’s 6-week trough at 109.87 to 109.85 in Australia and minor consolidation would be seen ahead of today’s non-farm payrolls release, as said move signals decline from July’s peak at 114.49 has resumed, downside bias remains and below said support would extend fall to 109.50/60.
However, loss of downward momentum would keep price above 109.27.
On the upside, only above 110.59 would indicate a temporary low has been made and risk stronger retracement towards 110.77 but resistance at 110.98 would remain intact and yield retreat later.
U.S. will release the blockbuster NFP (forecast for July is 183K increase in jobs vs previous reading of 222k) at 12:30GMT, traders will also look at average hourly earnings (MoM) for inflation outlook, unemployment rate, trade balancr, then later Dallas Fed PCE.
AceTraderFx Aug 07: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 07 Aug 2017 10:00 GMT
USD/JPY - 110.79
Although price has recovered after intra-day marginal break of yesterday’s 6-week trough at 109.87 to 109.85 in Australia and minor consolidation would be seen ahead of today’s non-farm payrolls release, as said move signals decline from July’s peak at 114.49 has resumed, downside bias remains and below said support would extend fall to 109.50/60.
However, loss of downward momentum would keep price above 109.27.
On the upside, only above 110.59 would indicate a temporary low has been made and risk stronger retracement towards 110.77 but resistance at 110.98 would remain intact and yield retreat later.
AceTraderFx Aug 08: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 08 Aug 2017 08:32 GMT
USD/JPY - 110.56
Although the greenback has retreated after Friday’s rally from a fresh 6-week trough at 109.85 to 111.05 on robust U.S. jobs report and minor consolidation would be seen, as said move signals erratic decline from July’s peak at 114.49 has made a temporary low there, upside bias is retained and above 111.05 would yield stronger retracement towards 111.62 (38.2%).
On the downside, only below 110.29 would indicate aforesaid recovery has ended instead and risk re-test of 109.85, break would extend towards 109.60/63.
U.S. eco. calendar is very light today with Redbook retail sales being the only familiar data due out at 12:55GMT.
After last Friday’s jobs report, the only data that will capture market attention are Thursday’s PPI and Friday’s CPI, so data watchers will have to be patient.
DAILY MARKET OUTLOOK on Major