AceTraderFx Dec 08: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 08 Dec 2017[/B] [I]09:30 GMT[/I]
USD/JPY - 113.49
The greenback’s rally in New York yesterday and subsequent break of Monday’s high at 113.09 signals upmove from last week’s 2-month trough at 110.84 has once again resumed and consolidation with upside bias would be seen for stronger retracement of erratic decline from November’s 4-month peak at 114.74 towards 113.80/90 but near term loss of momentum would keep price below 114.07/10.
On the downside, only below 112.86 would indicate a temporary top has been made and risk stronger correction to 112.37/40 before prospect of a rebound later.
[B]Data to be released on Friday: [/B]
Japan current account, GDP, trade balance, eco watchers outlook, eco watchers current, China exports, imports, trade balance.
Italy market holiday, Germany exports, imports, current account, trade balance, France industrial output, budget balance, U.K. construction output, industrial output, manufacturing output, trade balance, NIESR GDP estimate.
Canada housing starts, capacity utilisation, and U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, University of Michigan sentiment, wholesale inventories and wholesale sales.
AceTraderFx Dec 14: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 14 Dec 2017[/B] [I]09:30 GMT[/I]
USD/JPY - 112.75
The greenback’s selloff to as low as 112.46 yesterday after the Federal Reserve hiked its rate by 25 bps suggests corrective rise from November’s 2-month trough at 110.84 has made a temporary top at 113.75 Tuesday and choppy trading with downside bias would be seen for weakness towards 112.26 (50% r), however, support at 112.00 should remain intact initially and yield rebound.
On the upside, only above 113.25 (previous support, now resistance) would indicate said pullback is over and risk re-test of said res, break would extend to 114.10/20.
[B]Data to be released on Thursday: [/B]
Japan Nikkei manufacturing PMI, industrial production, capacity utilization, Australia employment change, unemployment rate.
U.S. import prices, export prices, initial jobless claims, retail sales, retail sales ex-autos, Markit manufacturing PMI, Markit services PMI, business inventories. Canada new housing price index.
AceTraderFx Dec 15: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 15 Dec 2017[/B] [I]09:30 GMT[/I]
USD/JPY - 112.13
The greenback’s selloff to as low as 112.46 Wednesday after the Federal Reserve hiked its rate by 25 bps, then to 112.07 yesterday suggests corrective rise from November’s 2-month trough at 110.84 has made a temporary top at 113.75 Tuesday and choppy trading with downside bias would be seen for weakness towards 111.70/74, however, support at 111.41 should remain intact initially and yield rebound.
On the upside, only above 113.25 (previous support, now resistance) would indicate said pullback is over and risk re-test of said res, break would extend to 114.10/20.
U.S. will release New York Fed manufacturing index, industrial prod., capacity utilization and manufacturing output during New York morning.
AceTraderFx Dec 18: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 18 Dec 2017[/B] [I]10:00 GMT[/I]
USD/JPY - 112.71
The greenback’s selloff to as low as 112.46 Wednesday after the Federal Reserve hiked its rate by 25 bps, then to 112.07 yesterday suggests corrective rise from November’s 2-month trough at 110.84 has made a temporary top at 113.75 Tuesday and choppy trading with downside bias would be seen for weakness towards 111.70/74.
However, support at 111.41 should remain intact initially and yield rebound.
On the upside, only above 113.25 (previous support, now resistance) would indicate said pullback is over and risk re-test of said res, break would extend to 114.10/20.
[B]Data to be released on Monday: [/B]
Italy trade balance, EU CPI, core CPI, U.K. CBI industry trends survey and U.S. NAHB housing market on Monday.
AceTraderFx Dec 20: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 20 Dec 2017[/B] [I]09:30 GMT[/I]
USD/JPY - 113.09
The greenback’s selloff to as low as 112.46 Wednesday after the Federal Reserve hiked its rate by 25 bps, then to 112.07 yesterday suggests corrective rise from November’s 2-month trough at 110.84 has made a temporary top at 113.75 Tuesday and choppy trading with downside bias would be seen for weakness towards 111.70/74.
However, support at 111.41 should remain intact initially and yield rebound.
On the upside, only above 113.25 (previous support, now resistance) would indicate said pullback is over and risk re-test of said res, break would extend to 114.10/20.
U.S. eco. calendar is very light with Nov existing home sales being the only data due out at 15:00GMT.
AceTraderFx Dec 21: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 21 Dec 2017 09:30 GMT
USD/JPY - 113.59
The greenback’s strong rebound from last Friday’s low at 112.03 strongly suggests the pullback from last Tuesday’s high at 113.75 has ended there and consolidation with upside bias remains for upmove from November’s 2-month trough at 110.84 to resume and yield re-test of said resistance, break would extend to 114.00/10 before prospect of a retreat due to near term loss of momentum.
On the downside, only below 112.83 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness to 112.51, then 112.03 again.
Data to be released on Thursday:
Japan Bank of Japan interest rate decision, Swiss exports, imports, trade balance, France business climate, U.K. PSNB, PSNCR.
U.S. GDP, PCE, core PCE, initial jobless claims, national activity index, monthly home price, Canada CPI, core CPI, retail sales, and EU consumer confidence.
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AceTraderFx Dec 22: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 22 Dec 2017[/B] [I]10:00 GMT[/I]
USD/JPY - 113.42
The greenback’s strong rebound from last Friday’s low at 112.03 strongly suggests the pullback from last Tuesday’s high at 113.75 has ended there and consolidation with upside bias remains for upmove from November’s 2-month trough at 110.84 to resume and yield re-test of said resistance, break would extend to 114.00/10 before prospect of a retreat due to near term loss of momentum.
On the downside, only below 112.83 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness to 112.51, then 112.03 again.
[B]Data to be released on Friday:[/B]
Germany GfK consumer sentiment, France consumer spending, GDP, producer prices, Swiss KOF indicator, U.K. GDP, Italy business confidence, consumer confidence, industrial order, industrial sales.
Canada GDP, retail sales, and U.S. building permits, personal income, PCE, core PCE, durable goods, durables ex-transport, durables ex-def, University of Michigan sentiment, new home sales, KC Fed manufacturing
AceTraderFx Dec 27: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 27 Dec 2017 09:30 GMT
USD/JPY - 113.18
The greenback’s strong rebound from last Friday’s low at 112.03 strongly suggests the pullback from last Tuesday’s high at 113.75 has ended there and consolidation with upside bias remains for upmove from November’s 2-month trough at 110.84 to resume and yield re-test of said resistance, break would extend to 114.00/10 before prospect of a retreat due to near term loss of momentum.
On the downside, only below 112.83 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness to 112.51, then 112.03 again.
Data to be released today:
Japan construction orders, housing starts, Swiss UBS consumption indicator, ZEW investor sentiment, U.K. BBA mortgage approvals, and U.S. redbook, pending home sales on Wednesday.
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AceTraderFx Dec 28: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 28 Dec 2017[/B] [I]09:30 GMT[/I]
USD/JPY - 112.75
The greenback’s strong rebound from last Friday’s low at 112.03 strongly suggests the pullback from last Tuesday’s high at 113.75 has ended there and consolidation with upside bias remains for upmove from November’s 2-month trough at 110.84 to resume and yield re-test of said resistance, break would extend to 114.00/10 before prospect of a retreat due to near term loss of momentum.
On the downside, only below 112.83 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness to 112.51, then 112.03 again.
[B]Data to be released on Thursday :[/B]
Japan industrial production, retail sales, and U.S. wholesale inventories, initial jobless claims, Chicago PMI.
AceTraderFx Jan 02: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 02 Jan 2018[/B] [I]09:30 GMT[/I]
USD/JPY - 112.59
The greenback’s strong rebound from last Friday’s low at 112.03 strongly suggests the pullback from last Tuesday’s high at 113.75 has ended there.
Consolidation with upside bias remains for upmove from November’s 2-month trough at 110.84 to resume and yield re-test of said resistance, break would extend to 114.00/10 before prospect of a retreat due to near term loss of momentum.
On the downside, only below 112.83 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness to 112.51, then 112.03 again.
[B]Data to be released today: [/B]
Italy Markit manufacturing PMI, France Markit manufacturing PMI, Germany Markit manufacturing PMI, EU Markit manufacturing PMI.
Canada Markit manufacturing PMI, and U.S. Markit manufacturing PMI.
AceTraderFx Jan 03: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 03 Jan 2018[/B] [I]09:30 GMT[/I]
USD/JPY - 112.36
Despite dollar’s selloff to 112.06 yesterday, subsequent rebound suggests further choppy trading above previous support at 112.03 would continue with upside bias and marginal gain from here is likely to be seen, however, resistance at 112.99 should remain intact and yield retreat later this week. Below 112.03/06 would revive bearishness for stronger weakness towards 111.70/80.
On the upside, only above 112.99 would indicate a temporary low has been made instead and risk stronger gain to 113.64 but December’s peak at 113.75 would remain intact.
Pay attention to release of Fed minutes later at 19:00GMT, however before that, we have a slew of eco. data starting with U.S. mortgage application, Redbook sales, ISM NY index, construction spending and ISM mfg index.
AceTraderFx Jan 08: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 08 Jan 2018[/B] [I]10:00 GMT[/I]
USD/JPY - 113.34
Despite dollar’s selloff to 112.06 Monday, subsequent strong rebound suggests further choppy trading above previous support at 112.03 would continue with upside bias and marginal gain from here is likely to be seen, however, resistance at 113.38 should remain intact and yield retreat later this week.
Below 112.03/06 would revive bearishness for stronger weakness towards 111.70/80.
On the upside, only above 113.38 would indicate a temporary low has been made instead and risk stronger gain to 113.64 but December’s peak at 113.75 would remain intact.
After Friday’s release of key U.S. jobs data, no eco. data is due out today from the U.S., however, we have 3 Fed officials delivering speeches later in the day starting with Atlanta Fed President’s Bostic (voter), S.Francisco Fed President’s Williams (voter) and Boston Fed’s Rosengren (non-voter).
AceTraderFx Jan 09: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 09 Jan 2018[/B] [I]09:30 GMT[/I]
USD/JPY - 112.75
Dollar’s intra-day selloff in Asia on news of Bank of Japan tapering its bond purchases suggests recovery from last week’s low at 112.06 has ended at 113.39 yesterday and choppy trading with downside bias would be seen for weakness towards 112.36, below would confirm this view and yield re-test of support area at 112.03/06.
Break there signals decline from daily res at 113.75 has resumed and extend to 111.80/85.
On the upside, only above 113.39 would revive bullishness for gain towards 113.64 but resistance at 113.75 should hold on first testing and yield retreat.
[B]Data to be released on Tuesday: [/B]
Australia building permits, ANZ job ads, Japan consumer confidence index,
Swiss unemployment rate, retail sales, Germany industrial output, exports, imports, trade balance, France current account, trade balance, imports, exports, EU unemployment rate, U.K. BRC retail sales,
U.S. redbook, JOLTS job openings.
AceTraderFx Jan 10: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 10 Jan 2018[/B] [I]09:30 GMT[/I]
USD/JPY - 111.91
The greenback’s selloff to 112.37 yesterday and then intra-day fall below this support and previous low at 112.03 signals erratic decline from December’s peak at 113.75 has finally resumed and further weakness towards 111.65/70 would be seen after consolidation.
However, loss of momentum would keep price above 111.41 and yield a much-needed correction later this week.
On the upside, only above 113.39 would revive bullishness for gain towards 113.64 but resistance at 113.75 should hold on first testing and yield retreat.
[B]Data to be released on Wednesday: [/B]
Australia NAB business conditions, China PPI, CPI.
France industrial output, Italy industrial output, U.K. construction output, industrial output, manufacturing output, trade balance, NIESR GDP estimate.
U.S. MBA mortgage application, import prices, export prices, wholesale inventories, wholesale sales, Canada building permits
AceTraderFx Jan 15: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 15 Jan 2018[/B] [I]09:30 GMT[/I]
USD/JPY - 110.69
The greenback’s intra-day fall and subsequent break of November’s trough at 110.84 to a fresh 4-month low at 110.58 signals erratic decline from November’s peak at 114.74 has finally resumed and choppy trading with downside bias would be seen for weakness towards 110.30/35, however, over sold condition would keep price above 110.10/15 and yield a much-needed correction later this week.
On the upside, only above 111.19 would indicate a temporary low has been made and risk would increase for a stronger retracement to 111.69/70.
[B]
Data to be released today:[/B]
EU trade balance and U.S. market holiday on Monday.
AceTraderFx Jan 16: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 16 Jan 2018[/B] [I]09:30 GMT[/I]
USD/JPY - 110.69
The greenback’s intra-day fall and subsequent break of November’s trough at 110.84 to a fresh 4-month low at 110.48 yesterday signals erratic decline from November’s peak at 114.74 has finally resumed and choppy trading with downside bias would be seen for weakness towards 110.30/35, however, over sold condition would keep price above 110.10/15 and yield a much-needed correction later this week.
On the upside, only above 111.19 would indicate a temporary low has been made and risk would increase for a stronger retracement to 111.69/70.
Although U.S. market will reopen after yesterday’s market holiday, with New York Empire State manufacturing index being the only eco. data due out, funds flow will continue to have a greater influence on intra-day price swings.
AceTraderFx Jan 17: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 17 Jan 2018[/B] [I]09:30 GMT[/I]
USD/JPY - 110.75
The greenback’s sharp fall and subsequent break of November’s trough at 110.84 to a fresh 4-month low at 110.48 Monday, then 110.20 today signals erratic decline from November’s peak at 114.74 has finally resumed and choppy trading with downside bias would be seen for weakness towards 110.10/15.
However, over sold condition would keep price above 109.70/74 and yield a much-needed correction later this week.
On the upside, only above 111.19 would indicate a temporary low has been made and risk would increase for a stronger retracement to 111.69/70.
[B]Data to be released on Wednesday: [/B]
Australian Westpac consumer confidence, Japan machinery orders, Germany wholesale price index, EU CPI, U.S. MBA mortgage application, redbook, industrial production, capacity utilization, NAHB manufacturing market index, and Canada rate decision.
AceTraderFx Jan 19: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 19Jan 2018[/B] [I]09:30 GMT[/I]
USD/JPY - 110.69
Despite the greenback’s strong rebound from Wednesday’s fresh 4-month trough at 110.20 to 111.48 yesterday, subsequent retreat suggests the first leg of correction has ended and choppy trading with downside bias would be seen for weakness to 110.30/40, below would confirm this view and yield re-test of aforesaid support. However, loss of momentum would prevent steep fall below there and yield rebound later.
On the upside, only above 111.48 would revive bullishness for a stronger retracement of medium term decline towards 111.69/70, then 111.88/90 early next week.
[B]Data released on Friday: [/B]
New Zealand manufacturing PMI, Germany producer price, Swiss producer/import price, EU current account, U.K. retail sales, Canada manufacturing sales, and U.S. University of Michigan sentiment.
AceTraderFx Jan 23: Daily Recommendations on Major -USD/JPY
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 23 Jan 2018[/B] [I]09:30 GMT[/I]
USD/JPY - 111.01
Despite the greenback’s strong rebound from last Wednesday’s fresh 4-month trough at 110.20 to 111.48 last Thursday, subsequent retreat suggests the first leg of correction has ended and choppy trading with downside bias would be seen for weakness to 110.30/40, below would confirm this view and yield re-test of aforesaid support.
However, loss of momentum would prevent steep fall below there and yield rebound later.
On the upside, only above 111.48 would revive bullishness for a stronger retracement of medium term decline towards 111.69/70, then 111.88/90 later this week.
U.S. eco. calendar is pretty light with Redbook sales and Richmond Fed manufacturing index the only data due out later today.