AceTraderFx Sept 27: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]27 Sept 2017[/B] [I]09:40 GMT[/I]
USD/JPY - 112.78
Dollar’s intra-day break of last Thursday’s 2-month peak at 112.72 due to renewed broad-based usd’s strength confirms recent strong rise from September’s 107.32 bottom has once again resumed and would head to 113.00/10, however, loss of upward momentum should cap price at 113.40.
On the downside, below 112.25/30 signals temporary top is made, hen risk is seen for a retracement to 112.00, then 111.70/80 later.
[B]Data to be released on Wednesday: [/B]
Swiss UBS consumption indicator, France consumer confidence, Italy business confidence, consumer confidence, Swiss ZEW investor sentiment, U.K. GDP, current account, Italy industrial orders, industrial sales, U.K. CBI distributive trades, and U.S. building permits, durable goods, pending home sales.
AceTraderFx Oct 03: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]03 Oct 2017[/B] [I]09:40 GMT[/I]
USD/JPY - 113.09
Dollar’s intra-day gain to 113.20 suggests re-test of last Wednesday’s 2-month peak at 113.26 would be forthcoming next, break would extend recent upmove from September’s 10-1/2 month bottom at 107.32 to next daily objective at 113.58, loss of upward momentum would cap price at 116.00/05 today.
On,the downside, only below 112.54 prolongs choppy sideways trading and risk weakness towards 112.22/26.
[B]Data to be released on Tuesday: [/B]
Japan consumer confidence, U.K. Markit construction PMI, EU producer prices, and U.S. redbook, ISM New York index.
AceTraderFx Oct 06: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]06 Oct 2017[/B] [I]09:30 GMT[/I]
USD/JPY - 113.03
Dlr’s intra-day firmness due partly to rising U.S. yields suggests re-test of September’s 2-month peak at 113.26 would be seen, above confirms recent upmove from 107.32 has resumed and would head to next daily objective at 113.58, loss of momentum is likely to cap price at 114.05/10.
Failure to penetrate 113.26 and subsequent break of 112.22 would risk stronger retracement of aforesaid rise towards 111.48 before prospect of rebound.
After yesterday’s hawkish comments by Fed’s Harker and Williams, more Fed officials will be speaking later in the day starting with Fed’s Bostic at 13:15GMT, Fed’s Dudley and Fed’s Kaplan at 16:15GMT and Fed’s Bullard at 17:00GMT.
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AceTraderFx Oct 13: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]13 Oct 2017[/B] [I]09:25 GMT[/I]
USD/JPY - 112.06
Dollar’s intra-day cross-inspired break of this week’s low at 111.99 (Tue) confirms decline from last Friday’s 2-1/2 month peak at 113.44 has resumed and would head towards 111.48, oversold condition may keep price above 111.12.
Only above 112.32 (AUS) suggests correction has possibly ended and yields stronger gain towrds 112.59 but 112.83 would cap upside.
U.S. will release CPI, retail sales, business inventories and U. of Michigan consumer confidence.
Today, we have a line of Fed officials delivering speeches starting with Boston Fed’s Rosengren (non-voter) n Fed Gov. Powell (voter) at 12:30GMT, then Chicago Fed’s Evans (voter) at 14:25GMT, Dallas Fed’s Kaplan (voter) at 15:30GMT n Fed’s Powell again at 17:00GMT.
AceTraderFx Oct 18: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]18 Oct 2017[/B] [I]09:55 GMT[/I]
USD/JPY - 112.51
Despite dollar’s drop to 111.65 on Monday, subsequent rally to 112.29 in New York, then marginally higher to 112.48 yesterday suggests the pullback from October’s 2-1/2 month peak at 113.44 has ended there and choppy trading with upside bias would be seen for gain towards 112.59, above would add credence to this view and extend further, however, resistance at 112.83 should remain intact and yield retreat.
On the downside, only below 111.65 would revive bearishness for a stronger retracement of erratic upmove from 107.32 towards 111.48/50, then 111.12.
U.S. will release building permits, housing starts and later Fed’s beige book. Pay attention to New York Fed President Dudley (voter) and Dallas President Kaplan (voter) who will participate in moderated discussion at a forum in New York at 12:00GMT.
AceTraderFx Oct 20: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]20 Oct 2017[/B] [I]09:25 GMT[/I]
USD/JPY - 113.45
The greenback’s intra-day break October’s 2-1/2 month peak at 113.44 signals erratic upmove from September’s trough at 107.32 has once again resumed and choppy trading with upside bias would be seen for gain towards 113.60/70, however, loss of momentum would keep price below 114.00/10 today and yield a much-needed correction later.
On the downside, only below 112.48 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.99.
[B]Data to be released on Friday: [/B]
Germany producer prices, EU current account, U.K. PSNB, PSNCR, Canada CPI, retail sales, and U.S. existing home sales.
AceTraderFx Oct 30: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]30 Oct 2017[/B] [I]09:32 GMT[/I]
USD/JPY - 113.72
Despite the greenback’s rally from Thursday’s low at 113.34 to a fresh 3-1/2 month peak at 114.45, subsequent retreat signals recent erratic upmove has formed a temporary top there and choppy trading with downside bias would be seen for weakness towards 113.20/24, then 112.80/90 but loss of momentum would keep price above 112.50 and yield rebound later this week.
On the upside, only above 114.45 would revive bullishness for gain towards 114.60/70 before prospect of a correction due to over bought condition.
[B]Data to be released today:[/B]
Japan retail sales, Germany retail sales, Swiss KOF leading indicator, U.K. mortgage approvals, EU business climate, economic sentiment, industrial sentiment, servcies sentiment, consumer confidence.
U.S. personal income, personal spending, PCE, core PCE, Dallas Fed manufacturing business index, and Germany CPI, HICP on Monday.
AceTraderFx Nov 01: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]01 Nov 2017[/B] [I]09:22 GMT[/I]
USD/JPY - 113.73
Despite the greenback’s rally from Thursday’s low at 113.34 to a fresh 3-1/2 month peak at 114.45, subsequent retreat signals recent erratic upmove has formed a temporary top there and choppy trading with downside bias would be seen for weakness towards 112.80/90 but loss of momentum would keep price above 112.50 and yield rebound later this week.
On the upside, only above 114.45 would revive bullishness for gain towards 114.60/70 before prospect of a correction due to over bought condition.
Ahead of FOMC, U.S. will release Markit mfg PMI, construction spending, ISM-mfg PMI. Although the Fed is widely expected to keep its interest rate unchanged at today’s meeting until its final meeting in December (13th), market will look at the FOMC statements (as no press conference is scheduled) for clues on Fed’s view about the labour market and the U.S. economic outlook.
AceTraderFx Nov 08: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]08 Nov 2017[/B] [I]09:20 GMT[/I]
USD/JPY - 113.83
Despite yesterday’s cross-inspired rebound to 114.34 in Europe, subsequent decline in New York due to usd’s weakness suggests choppy trading below Mon’s 7-1/2 month peak at 114.74 would continue with downside bias for stronger retracement to 113.30/35, loss of downward momentum would keep price above 113.00/10.
Only above 114.34 signals said correction has ended instead, then risk is seen for re-test of 114.74.
No major U.S. eco. data is due out today, so funds flow would have a strong influence on intra-day price swings, also pay attention to U.S. yields, the benchmark 10-year is currently at 2.3109%, now far from its Tuesday’s near 4-week low of 2.304%.
AceTraderFx Nov 13: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 13 Nov 2017 09:30 GMT
USD/JPY - 113.49
Although dollar’s rebound from 113.09 (Thursday) to 113.64 on Friday, then intra-day initial gain to 113.72 suggests decline from last Monday’s 7-1/2 month peak at 114.74 has made a low, intra-day retreat on cross-buying in yen due to retreat in U.S. yields and weakness in the Nikkie would bring sideways trading before prospect of further headway towards 114.07 later today or tomorrow.
Only below 113.22 would risk re-test of 113.09, however, loss of downward momentum would keep price above 112.73.
Monday data to be released:
Japan CGPI, Canada market holiday, and U.S. federal budget.
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AceTraderFx Nov 14: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]14 Nov 2017[/B] [I]09:20 GMT[/I]
USD/JPY - 113.86
The greenback’s rebound from last Thursday’s low at 113.09 to 113.72 yesterday and then intra-day break of this resistance strongly suggests decline from last Monday’s 7-1/2 month peak at 114.74 has made a temporary low there and choppy trading with upside bias would be seen but above 114.07 is needed to add credence to this view and extend towards 114.34 later.
On the downside, only below 113.22/25 would confirm aforesaid recovery has ended instead and turn outlook bearish for a re-test of 113.09, break, 112.70/73 later.
U.S. will release PPI data n Redbook retails sales at 13:30GMT. Chair Janet Yellen will participate in policy panel before the CB Conference, the theme is Communications Challenges for Policy Effectiveness, Accountability and Reputation at 10:00GMT. Other Fed officials will be speaking later today (please refer to EI page for details).
AceTraderFx Nov 15: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]15 Nov 2017[/B] [I]09:20 GMT[/I]
USD/JPY - 112.82
The greenback’s intra-day sharp retreat n subsequent break of last Thursday’s low at 113.09 signals erratic decline from November’s fresh 7-1/2 month peak at 114.74 has resumed and choppy trading with downside bias would be seen for weakness towards 112.48/50 but near term loss of momentum would prevent sharp fall beyond there and reckon support at 112.30 would remain intact and yield rebound.
On the upside, only above 113.50 would indicate a temporary low has been made and risk stronger retracement towards 113.91 before prospect of pullback.
[B]Data to be released on Wednesday: [/B]
France CPI, U.K. claimant count, ILO unemployment rate, average weekly earnings, EU trade balance.
U.S. MBA mortgage application, CPI, core CPI, real weekly earnings, New York Fed manufacturing, retail sales, retail sales ex-autos, business inventories.
AceTraderFx Nov 20: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 20 Nov 2017[/B] [I]09:30 GMT[/I]
USD/JPY - 112.07
The greenback’s sharp retreat last week and subsequent break of November’s low at 113.09 to 111.95 Friday signals erratic decline from November’s fresh 7-1/2 month peak at 114.74 has resumed and choppy trading with downside bias would be seen for weakness towards 111.75/80 but near term loss of momentum would prevent sharp fall beyond there and reckon support at 111.65 would remain intact and yield rebound.
On the upside, only above 113.33 would indicate a temporary low has been made and risk stronger retracement towards 113.91 before prospect of pullback.
U.S. eco. calendar is very thin with October leading indicator being the only data due out later today at 15:00GMT.
AceTraderFx Nov 22: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 22 Nov 2017[/B] [I]09:00 GMT[/I]
USD/JPY - 112.05
The greenback’s sharp retreat last week and subsequent break of November’s low at 113.09 to 111.89 Monday signals erratic decline from November’s fresh 7-1/2 month peak at 114.74 has resumed and choppy trading with downside bias would be seen for weakness towards 111.75/80 but near term loss of momentum would prevent sharp fall beyond there and reckon support at 111.65 would remain intact and yield rebound.
On the upside, only above 113.33 would indicate a temporary low has been made and risk stronger retracement towards 113.91 before prospect of pullback.
[B]Data to be released on Wednesday : [/B]
EU consumer confidence, and U.S. MBA mortgag application, durable goods, durables ex-transport, durables ex-defense, initial jobless claims, University of Michigan sentiment and FOMC minutes.
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AceTraderFx Nov 24: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 24 Nov 2017[/B] [I]09:30 GMT[/I]
USD/JPY - 111.38
The greenback’s sharp retreat last week and subsequent break of November’s low at 113.09 to 111.89 Monday and yesterday’s fall to 111.07 on dovish FOMC minutes signals erratic decline from November’s fresh 7-1/2 month peak at 114.74 has resumed and choppy trading with downside bias would be seen for weakness towards 110.88 but near term loss of momentum would prevent sharp fall beyond there and reckon support at 110.50 would remain intact and yield rebound.
On the upside, only above 113.33 would indicate a temporary low has been made and risk stronger retracement towards 113.91 before prospect of pullback.
[B]Data to be released on Friday : [/B]
Swiss industrial orders, Germany Ifo business climate, Ifo current conditions, Ifo expectations, Italy industrial orders, industrial sales, U.K. BBA mortgage approvals, and U.S. Markit manufacturing PMI, Markit services PMI.
AceTraderFx Nov 27: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 27 Nov 2017[/B] [I]09:30 GMT[/I]
USD/JPY - 111.23
As the greenback has retreated again after meeting renewed selling at 111.69 in Australia, suggesting recovery from last Thursday’s low at 111.07 has ended there and consolidation with downside bias remains for decline from November’s 7-1/2 month peak at 114.74 to resume and yield re-test of said support, break would extend towards 110.70 but loss of momentum would keep price above 110.58.
On the upside, only above 112.18 would indicate a temporary low has been made and risk stronger retracement towards 112.50/52 before prospect of retreat.
Data to be released today:
Swiss non-farm payrolls, Italy business confidence, consumer confidence, and U.S. new home sales, Dallas Fed manufacturing business index on Monday.
AceTraderFx Nov 28: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 28 Nov 2017[/B] [I]09:30 GMT[/I]
USD/JPY - 111.29
As the greenback has retreated again after meeting renewed selling at 111.69 in Australia, suggesting recovery from last Thursday’s low at 111.07 has ended there and consolidation with downside bias remains for decline from November’s 7-1/2 month peak at 114.74 to resume and yield re-test of said support, break would extend towards 110.70 but loss of momentum would keep price above 110.58.
On the upside, only above 112.18 would indicate a temporary low has been made and risk stronger retracement towards 112.50/52 before prospect of retreat.
[B]Data to be released on Tuesday:[/B]
Germany GfK consumer sentiment, import price, France consumer confidence.
Canada producer prices, and U.S. building permits, wholesale inventories, redbook, monthly home price, CS home price, consumer confidence, Richmond Fed manufacturing.
AceTraderFx Nov 30: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 30 Nov 2017[/B] [I]09:30 GMT[/I]
USD/JPY - 112.29
Despite the greenback’s resumption of decline from November’s 7-1/2 month peak at 114.74 to a fresh 2-month trough at 110.84 Monday, subsequent rebound to 112.15 yesterday and intra-day break of this resistance suggests a temporary low has been made and consolidation with upside bias remains for a stronger retracement towards 112.72/75 but near term loss of momentum would keep price below 113.33 this week and yield retreat.
On the downside, only below 111.38 would indicate aforesaid recovery has ended instead and turn outlook bearish for a re-test of said support early next week.
Despite being the last trading of the month, pay attention to release of important U.S. PCE data, personal income and spending, initial jobless claims and Chicago PMI.
Also we have several Fed officials who are scheduled to speak during New Year session starting with Fed’s Mester, Fed’s Powell and Fed’s Kaplan.
AceTraderFx Dec 04: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 04 Dec 2017[/B] [I]09:30 GMT[/I]
USD/JPY - 112.96
Despite the greenback’s resumption of decline from November’s 7-1/2 month peak at 114.74 to a fresh 2-month trough at 110.84 last Monday, subsequent rebound to 112.88 Friday and then intra-day break of this resistance suggests a temporary low has been made and consolidation with uspide bias remains for a stronger retracement towards 113.20/30 but near term loss of momentum would keep price below 113.44 this week and yield retreat.
On the downside, only below 111.38 would indicate aforesaid recovery has ended instead and turn outlook bearish for a re-test of said support early next week.
U.S. will release ISM New York index, and factory orders later in the day.
Pay attention to speeches by BoJ Gov. Kuroda and ECB Board member Villeroy will are both scheduled to make a speech at a seminar in Tokyo at 04:00GMT, Vileroy will make another at a seminar at 06:30GMT.
AceTraderFx Dec 06: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 06 Dec 2017[/B] [I]09:30 GMT[/I]
USD/JPY - 112.11
Despite the greenback’s resumption of decline from November’s 7-1/2 month peak at 114.74 to a fresh 2-month trough at 110.84 last Monday, subsequent rebound to 112.88 Friday and then intra-day break of this resistance suggests a temporary low has been made and consolidation with uspide bias remains for a stronger retracement towards 113.20/30 but near term loss of momentum would keep price below 113.44 this week and yield retreat.
On the downside, only below 111.38 would indicate aforesaid recovery has ended instead and turn outlook bearish for a re-test of said support early next week.
U.S. will release mortgage applications, ADP employment data n non-farm productivity.
Pay attention to ADP private payrolls number ahead of Friday’s key U.S. jobs data, street forecast is look for an increase of 185K in Nov vs previous reading of 235K, if actual figure comes in lower than estimate, USD will be sold.