AceTraderFx Oct 10: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 10 Oct 2018 09:30 GMT
USD/JPY - 113.09
Although the greenback has staged a recovery after Monday’s selloff to as low as 112.83 and minor consolidation would be seen, as said move signals recent upmove has made a temporary top at last Thursday’s near 11-month peak at 114.55, downside bias is retained and below 112.83 would yield stronger retracement of medium-term rise towards 112.56/60.
On the upside, only above 113.69 (50% r) would indicate aforesaid correction has ended instead and turn outlook bullish for stronger gain towards 114.09/10.
Data to be released on Wednesday :
France industrial output, Italy industrial output, UK GDP, industrial output, manufacturing output, construction output, trade balance, U.S. PPI, core PPI, redbook, wholesale inventories, wholesale sales and Canada building permits.
AceTraderFx Oct 11: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 11 Oct 2018 09:30 GMT
USD/JPY - 112.27
Although price has recovered after intra-day resumption of decline from last week’s near 11-month peak at 114.55 to 111.97 in Asia and minor consolidation would be seen ahead of U.S. inflation release in New York, reckon 112.83 (previous support, now resistance) would cap upside and yield another fall later, below 111.97 would extend to 111.66/70 before prospect of a correction due to loss of momentum.
On the upside, only above 112.83 would indicate a temporary low has been made and risk stronger retracement towards 113.39 before prospect of retreat.
Data to be released on Thursday :
UK RICS houseing price balance, Japan domestic CGPI, France CPI, U.S. initial jobless claims, CPI, core CPI, real weekly earnings, and Canada new housing price index.
AceTraderFx Oct 12: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 12 Oct 2018 09:30 GMT
USD/JPY - 112.31
Although price has recovered after intra-day resumption of decline from last week’s near 11-month peak at 114.55 to 111.84 yesterday and minor consolidation would be seen ahead of U.S. inflation release in NY, reckon 112.83 (previous support, now resistance) would cap upside and yield another fall later, below 111.84 would extend to 111.66/70 before prospect of a correction due to loss of momentum.
On the upside, only above 112.83 would indicate a temporary low has been made and risk stronger retracement towards 113.39 before prospect of retreat.
Data to be released on Friday :
Germany CPI, HICP, EU industrial production, U.S. import prices, export prices and consumer sentiment.
AceTraderFx Oct 15: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 15 Oct 2018 09:30 GMT
USD/JPY - 111.68
The greenback’s intra-day break of last Thursday’s 3-week trough at 111.84 signals decline from October’s 11-month peak at 114.55 has once again resumed and further weakness towards 111.40/50 would be seen after consolidation, however, over sold condition would keep price above support at 111.12 and yield a much-needed correction later this week.
On the upside, only above 112.54 would indicate a temporary low has been made and risk would increase for a much-needed retracement to 112.83 (previous support, now resistance), then 113.20/30 before down.
Data coming out later:
UK Rightmove house price, Japan industrial production, capacity utilization, Swiss producer/import price, Italy budget deadline, and U.S. New York Fed manufacturing index, retail sales, business inventories on Monday.
AceTraderFx Oct 18: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 18 Oct 2018 09:30 GMT
USD/JPY - 112.57
Despite the greenback’s initial fall to 111.63 on Monday, subsequent rally to 112.73 today suggests decline from October’s 11-month peak at 114.55 has made a temporary low there and choppy trading with mild upside bias would be seen for retracement towards 113.09/10.
However, near term loss of momentum would keep price below 113.39/40 and yield retreat early next week.
On the downside, only below 112.02 would indicate aforesaid recovery has ended instead and turn outlook bearish for a re-test of 111.63, break, 111.30/40 later.
On the data front, U.S. will release weekly jobless claims, Philly Fed survey n leading indicator. St. Lousis Fed President Bullard (non-voter) will speak at 13:15GMT and Fed Gov. Quarles (voter) will speak in New York at 16:15GMT.
AceTraderFx Oct 19: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 19 Oct 2018 09:30 GMT
USD/JPY - 112.43
Despite the greenback’s initial fall to 111.63 on Monday, subsequent rally to 112.73 yesterday suggests decline from October’s 11-month peak at 114.55 has made a temporary low there and choppy trading with mild upside bias would be seen for retracement towards 113.09/10, however, near term loss of momentum would keep price below 113.39/40 and yield retreat early next week.
On the downside, only below 112.02 would indicate aforesaid recovery has ended instead and turn outlook bearish for a re-test of 111.63, break, 111.30/40 later.
Data to be released later on Friday:
EU current account, UK PSNB, PSNCR, Canada CPI, retail sales, and U.S. existing home sales.
AceTraderFx Oct 22: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 22 Oct 2018 09:30 GMT
USD/JPY - 112.73
Although dlr’s intra-day cross-inspired brief break above 112.73 res confirms recent decline from October’s 114.55 peak has made a temporary low last week at 111.63 (Monday) and as long as 112.35 hold, gain to 113.05/10 is likely, o/bot condition should cap price at 113.29/29 and yield decline later this week.
Below 112.35 signals said correction from 111.63 has ended and risks weakness to 11.96/00.
U.S. eco. calendar is very light today with Chicago National Activity index for September being the only data due out, so traders are expected to take cue from intra-day movement in U.S. stocks.
AceTraderFx Oct 23: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 23 Oct 2018 09:30 GMT
USD/JPY - 112.31
Despite dollar’s resumption of upmove from last Monday’s 1-month trough at 111.63 to 112.89 yesterday, subsequent retreat and intra-day fall due to safe-haven yen buying on selloff in Asian equities suggests recovery has ended and downside bias remains for weakness towards 111.96, break would extend decline for re-test of 111.63 but 111.38/43 should hold.
On the upside, only above 112.89 would revive bullishness for gain towards 113.05/10, then 113.29/39.
Data to be released later on Tuesday :
Germany PPI, UK CBI orders, U.S. redbook, national activity index and EU consumer confidence.
AceTraderFx Oct 25: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 25 Oct 2018 09:30 GMT
USD/JPY - 112.30
Despite dollar’s selloff yesterday to 111.82 today, subsequent rebound suggests further choppy trading above October’s low at 111.63 would continue with mild upside bias and marginal gain can’t be ruled out.
However, as broad-outlook remains consolidative, reckon resistance at 112.74 should remain intact and yield another fall towards said support, break would extend decline from 114.55 to 111.12/15 later.
On the upside, only above 112.74 would dampen daily bearishness and risk gain towards 112.89 but above is needed to yield stronger retracement of aforesaid fall to 113.10/20.
Data to be released later on Thursday :
Germany Ifo business climate, Ifo current conditions, Ifo expectations, EU ECB rate decision, ECB deposit rate decision.
U.S. jobless claims, durable goods, trade balance, wholesale inventories, pending home sales, KC Fed manufacturing index.
AceTraderFx Oct 29: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 29 Oct 201 09:30 GMT
USD/JPY - 111.96
Although price has recovered after last Friday’s fall below October’s low at 111.63 to 111.38 and minor consolidation would be seen initially, as said move signals decline from October’s 4-month peak at 114.55 has once again resumed, downside bias is retained and below said support would extend towards 111.10/12.
However, over sold condition would keep price above 110.80/90 and yield a much-needed correction later this week.
On the upside, only above 112.19 would indicate a temporary low has been made and turn outlook bullish for a stronger retracement towards 112.40/50.
Data to be released later today:
UK CBI distributive trades, budget report, and U.S. personal income, personal spending, PCE price index, Dallas Fed manufacturing business index.
AceTraderFx Oct 30: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 30 Oct 2018 10:00 GMT
USD/JPY - 112.82
Despite the greenback’s selloff to a fresh 5-week trough at 111.38 last Friday, subsequent rally to 112.56 yesterday and intra-day break of this resistance suggests decline from October’s near 11-month peak at 114.55 has made a temporary low there and choppy trading with upside bias would be seen for a stronger retracement.
However, 112.97 (50% r) should remain intact and yield retreat later.
On the downside, only below 112.19 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness towards 111.63/65.
Data to be released later :
France GDP, consumer spending, Swiss KOF indicator, German unemployment change, CPI, HICP, Italy GDP, business confidence, consumer confidence, EU GDP, business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, UK CBI Distributive Trades.
U.S. redbook, CS home price, consumer confidence.
AceTraderFx Nov 01: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 01 Nov 2018 09:30 GMT
USD/JPY - 112.84
Despite the greenback’s selloff to a fresh 5-week trough at 111.38 last Friday, subsequent rally to 112.56 yesterday and intra-day break of this resistance suggests decline from October’s near 11-month peak at 114.55 has made a temporary low there and choppy trading with upside bias would be seen for a stronger retracement.
However, 112.97 (50% r) should remain intact and yield retreat later.
On the downside, only below 112.19 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness towards 111.63/65.
Data to be released later on Thursday :
Swiss consumer confidence, CPI, manufacturing PMI, UK Markit manufacturing PMI, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPC vote cut, BoE interest rate decision, BoE QE total, BoE QE corporate bond purchases.
Canada Markit manufacturing PMI, and U.S. initial jobless claims, labor costs, productivity, Markit manufacturing PMI, construction spending, ISM manufacturing PMI.
AceTraderFx Nov 05: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 05 Nov 2018 09:30 GMT
USD/JPY - 113.19
The greenback’s rally to 113.31 last Friday and intra-day marginal break of this resistance to 113.34 suggests a re-test of last week’s peak at 113.39 is forthcoming, break would signal upmove from October’s 5-week trough at 111.38 to retrace decline from October’s 11-month peak at 114.55 has resumed and extend towards 113.50/52 later but loss of momentum would keep price below 114.09 and yield retreat.
On the downside, only below 112.56 would indicate said correction has ended and turn outlook bearish for stronger weakness towards 112.19/20.
The N. American market has pushed their clock backward by an hour on Sun, so European traders can enjoy a longer lunch break. Today is PMI day, U.S. will release Markit services PMI n then ISN non-mfg PMI.
AceTraderFx Nov 06: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 06 Nov 2018 10:00 GMT
USD/JPY - 113.28
The greenback’s rally to 113.34 yesterday and intra-day marginal break of this resistance and last week’s peak at 113.39 signal upmove from October’s 5-week trough at 111.38 to retrace decline from October’s 11-month peak at 114.55 has once again resumed and extend towards 113.75/80 later but loss of momentum would keep price below 114.09 and yield retreat.
On the downside, only below 112.56 would indicate said correction has ended and turn outlook bearish for stronger weakness towards 112.19/20.
Data to be released on Tuesday :
UK BRC retail sales, Germany industrial orders, Markit services PMI, Italy Markit services PMI, France Markit services PMI, EU Markit services PMI, producer prices.
Canada building permits, and U.S. redbook, JOLTS job openings.
AceTraderFx Nov 08: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 08 Nov 2018 09:30 GMT
USD/JPY - 113.70
Despite the greenback’s selloff from yesterday’s Asian high at 113.82 to 112.95 on dollar’s broad-based weakness post US midterm election results, subsequent strong rebound suggests the pullback has ended and consolidation with upside bias remains for upmove from October’s trough at 111.38 to resume and yield re-test of said resistance, break would extend towards 114.09/10 later but loss of momentum would keep price below daily resistance at 114.55.
On the downside, only below 112.95 would indicate a temporary top has been made and risk stronger retracement towards 112.73.
Data to be released on Thursday :
UK RICS housing price balance, China exports, imports, trade balance, Swiss unemployment rate, Germany imports, exports, trade balance, current account, France current account, trade balance, imports, exports, imports, trade balance.
Canada housing starts, and U.S. initial jobless claims, Fed interest rate decision.
AceTraderFx Nov 09: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 09 Nov 2018 09:30 GMT
USD/JPY - 113.81
The greenback’s rise above Wednesday’s high at 113.82 to 114.09 today on overnight Federal Reserve’s hawkish hold suggests upmove from October’s low at 111.38 to retrace decline from October’s near 11-month peak at 114.55 has resumed and further gain towards 114.30/40 would be seen.
However, aforesaid resistance should hold on first testing and yield retreat early next week.
On the downside, only below 113.39 would indicate a temporary top has been made and turn outlook bearish for a stronger retracement towards 112.95.
Data to be released on Friday :
UK GDP, industrial output, manufacturing output, construction output, trad balance, NIESR GDP estimate, and U.S. PPI, University of Michigan sentiment, wholesale inventories, wholesale sales.
AceTraderFx Nov 12: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 12 Nov 2018 10:00 GMT
USD/JPY - 114.14
The greenback’s intra-day rally and subsequent break of last Thursday’s high at 114.09 signals recent erratic upmove from 111.38 has resumed and consolidation with upside bias remains for gain towards 114.40/45, however, near term loss of momentum would keep price below October’s near 11-month peak at 114.55 and yield retreat later.
On the downside, only below 113.64 would indicate a temporary top has been made and risk stronger retracement towards 113.39 (previous resistance) but 112.95 should contain downside.
No U.S. eco. data is due out as U.S. markets are closed for Veterans Day holiday and markets in Canada are also closed for Remembrance Day holiday.
S. Francisco Fed President Daily will speak on the economic outlook before the Regional Economic Development for Eastern Idaho at 19:30GMT later today.
AceTraderFx Nov 14: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 14 Nov 2018 09:30 GMT
USD/JPY - 113.87
The greenback’s rally on Monday and subsequent break of last Thursday’s high at 114.09 to 114.21 signals recent erratic upmove from 111.38 has resumed and subsequent retreat would yield consolidation before prospect of gain towards 114.40/45.
However, near term loss of momentum would keep price below October’s near 11-month peak at 114.55 and yield retreat later.
On the downside, only below 113.64 would indicate a temporary top has been made and risk stronger retracement towards 113.39 (previous resistance) but 112.95 should contain downside.
Data to be released later on Wednesday :
Germany GDP, France CPI, UK CPI, RPI, PPI input prices, PPI output prices, EU GDP, industrial production, and U.S. MBA mortgage application, CPI, real weekly earnings, redbook.
AceTraderFx Nov 15: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 15 Nov 2018 09:30 GMT
USD/JPY - 113.47
The greenback’s selloff yesterday to 113.31 due to a drop in U.S. Treasury yields and equities suggests upmove from October’s 1-month trough at 111.38 has made a temporary top at 114.21 on Monday and consolidation with downside bias remains for stronger retracement to 112.95.
However, near term loss of momentum would keep price above 112.56 and yield a rebound later today or tomorrow.
On the upside, only above 114.01 would revive bullishness for 114.21, break would yield a re-test of October’s near 11-month peak at 114.55.
Data to be released on Thursday :
UK retail sales, EU trade balance, Canada AP employment change, and U.S. NY Fed manufacturing index, import prices, export prices, initial jobless claims, Philadelphia Fed survey, retail sales, business inventories.
AceTraderFx Nov 16: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 16 Nov 2018 09:30 GMT
USD/JPY - 113.25
The greenback’s selloff yesterday to 113.10 due to a drop in U.S. Treasury yields and equities suggests upmove from October’s 1-month trough at 111.38 has made a temporary top at 114.21 on Monday and consolidation with downside bias remains for stronger retracement to 112.95.
However, near term loss of momentum would keep price above 112.56 and yield a rebound later today or tomorrow.
On the upside, only above 114.01 would revive bullishness for 114.21, break would yield a re-test of October’s near 11-month peak at 114.55.
Data to be released on Friday :
Germany wholesale price index, Italy industrial orders, industrial sales, trade balance, EU HICP, Italy consumer prices.
Canada manufacturing sales, and U.S. industrial production, capacity utilization, manufacturing output, KC Fed manufacturing.