AceTraderFx Feb 26 : Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 26 Feb 2021 09:30GMT
USD/JPY - 106.03
The greenback’s rise above previous February’s 5-month peak 106.22 to 106.42 in Asia today on usd’s renewed strength suggests upmove from January’s 9-1/2 month bottom at 102.60 remains in progress and further gain to 106.70/75 would be seen after consolidation, however, loss of momentum would keep price below 106.90/00 and yield a correction later this week.
On the downside, only below 105.42 would indicate a temporary top has been made and risk stronger retracement to 104.90/93.
Data to be released on Friday :
Germany import prices, UK nationwide house price, Swiss non-farm payrolls, GDP, KOF indicator, France consumer spending, GDP, CPI (EU norm), CPI, Italy trade balance, producer prices.
U.S. personal income, personal spending, core PCE price index, PCE price index, trade balance, wholesale inventories, Chicago PMI, University of Michigan sentiment, and Canada producer prices, budget balance.
AceTraderFx Mar 01 : Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 01 Mar 2021 09:30GMT
USD/JPY - 106.59
The greenback’s rise above previous February’s 5-month peak 106.22 to 106.69 in New York on Friday on usd’s renewed strength suggests upmove from January’s 9-1/2 month bottom at 102.60 remains in progress and further gain to 106.95/00 would be seen after consolidation, however, loss of momentum would keep price below 107.10/20 and yield a correction later this week.
On the downside, only below 105.42 would indicate a temporary top has been made and risk stronger retracement to 104.90/93.
The U.S. will release a slew of eco. data during NY morning session (pls refer to EI page for details) n pay attention to mfg n non-mfg PMI. We also have a number of Fed officials scheduled to speak later today.
AceTraderFx Mar 02 : Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 02 Mar 2021 09:30GMT
USD/JPY - 106.86
The greenback’s rise above previous February’s 5-month peak 106.22 to 106.88 yesterday on usd’s renewed strength and intra-day break above there suggests upmove from January’s 9-1/2 month bottom at 102.60 remains in progress and further gain to 107.20/30 would be seen after consolidation, however, loss of momentum would keep price below 107.40/50 and yield a correction later this week.
On the downside, only below 105.42 would indicate a temporary top has been made and risk stronger retracement to 104.90/93.
Data to be released on Tuesday :
New Zealand terms of trade, import prices, export prices, GDT price index, Japan unemployment rate, business capex, Australia building permits, current account, net exports contribution, RBA interest rate decision.
Germany retail sales, unemployment change, unemployment rate, UK nationwide house price index, EU HICP, core HICP.
Canada GDP, and U.S. redbook, ISM New York index.
AceTraderFx Mar 03: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 03 Mar 2021 09:30GMT
USD/JPY - 106.90
The greenback’s rise above previous February’s 5-month peak 106.22 to 106.88 Monday on usd’s renewed strength, then to 106.95 yesterday suggests upmove from January’s 9-1/2 month bottom at 102.60 remains in progress and further gain to 107.20/30 would be seen after consolidation, however, loss of momentum would keep price below 107.40/50 and yield a correction later this week.
On the downside, only below 105.42 would indicate a temporary top has been made and risk stronger retracement to 104.90/93.
Data to be released on Wednesday :
UK BRC shop price index, Markit services PMI, Japan services PMI, China Caixin services PMI, Swiss CPI, France budget balance, Markit services PMI, Italy Markit services PMI, GDP, Germany Markit services PMI, EU Markit services PMI, producer price index.
U.S. MBA mortgage applications, ADP employment change, Markit services PMI, ISM non-manufacturing PMI, and Canada building permits.
AceTraderFx Mar 04: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 04 Mar 2021 09:30GMT
USD/JPY - 107.19
The greenback’s rise above previous February’s 5-month peak 106.22 to 107.15 on Wednesday on usd’s renewed strength, and intra-day break above there suggests upmove from January’s 9-1/2 month bottom at 102.60 remains in progress and further gain to 107.30/40 would be seen after consolidation, however, loss of momentum would keep price below 107.50/60 and yield a correction later this week.
On the downside, only below 106.68 would indicate a temporary top has been made and risk stronger retracement to 105.85/90 later.
Data to be released on Thursday :
UK Markit construction PMI, EU retail sales, unemployment rate.
Canada labor productivity and U.S. initial jobless claims, continued jobless claims, labor costs, productivity, durables ex-defense, durable goods, factory orders, durables ex-transport
AceTraderFx Mar 05: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 05 Mar 2021 09:30GMT
USD/JPY - 108.45
The greenback’s rise above previous Thursday’s 7-month peak 107.98 to 108.52 today on usd’s continued strength following comments from Fed Chair Powell suggests upmove from January’s 9-1/2 month bottom at 102.60 remains in progress and further gain to 108.50/60 would be seen after consolidation, however, loss of momentum would keep price below 108.70 and yield a correction later this week.
On the downside, only below 107.158 would indicate a temporary top has been made and risk stronger retracement to 106.68 later.
Data to be released on Friday :
Germany industrial orders, France current account, trade balance, imports, exports, UK Halifax house price index, Italy retail sales.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, trade balance, and Canada trade balance, exports, imports, Ivey PMI.
AceTraderFx Mar 08: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 08 Mar 2021 09:30GMT
USD/JPY - 108.49
The greenback’s rise above previous Thursday’s 7-month peak 107.98 to 108.64 on Friday following release of robust U.S. jobs report suggests upmove from January’s 9-1/2 month bottom at 102.60 remains in progress and further gain to 108.80/85 would be seen after consolidation, however, loss of momentum would keep price below 109.00 and yield a correction later this week.
On the downside, only below 107.15 would indicate a temporary top has been made and risk stronger retracement to 106.68 later.
Data to be released today:
Japan current account, trade balance, coincident index, leading indicator, Economy Watchers outlook, Economy Watchers current, China exports, imports, trade balance.
Swiss unemployment rate, Germany industrial output, EU Sentix index, Canada leading index, housing starts.
U.S. wholesale inventory, wholesale sales on Monday.
AceTraderFx Mar 09: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 09 Mar 2021 09:30GMT
USD/JPY - 108.65
Despite the greenback’s break above Monday’s 7-month peak 108.94 to 109.23 in Asia on usd’s continued strength, subsequent sharp retreat in tandem with U.S. yields suggests upmove from January’s 9-1/2 month bottom at 102.60 has made a temporary top there and consolidation with downside bias remains for stronger retracement to 108.10, however, support at 107.83 should remain intact, yield rebound later.
On the upside, only above 109.23 would revive bullishness for gain to 109.50/60 but loss of momentum would cap price below 109.90/00.
Data to be released on Tuesday :
UK BRC retail sales, Australia NAB business conditions, NAB business confidence, France non-farm payrolls, Germany exports, imports, trade balance, current account, Italy industrial output, EU employment change, GDP.
Canada leading index and U.S. redbook.
AceTraderFx Mar 10: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 10 Mar 2021 09:30GMT
USD/JPY - 108.81
Despite the greenback’s rise to a fresh 7-month peak at 109.23 in Asia yesterday on usd’s continued strength, subsequent sharp retreat in tandem with U.S. yields suggests upmove from January’s 9-1/2 month bottom at 102.60 has made a temporary top there and consolidation with downside bias remains for stronger retracement to 108.10, however, support at 107.83 should remain intact, yield rebound later.
On the upside, only above 109.23 would revive bullishness for gain to 109.50/60 but loss of momentum would cap price below 109.90/00.
U.S. will later release a slew of eco. data, pay attention to core CPI n CPI at 13:30GMT.
AceTraderFx Mar 11: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 11 Mar 2021 09:30GMT
USD/JPY - 108.50
Despite the greenback’s rise to a fresh 7-month peak at 109.23 on Tuesday due to usd’s continued strength, subsequent sharp retreat to 108.35 yesterday in tandem with U.S. yields suggests upmove from January’s 9-1/2 month bottom at 102.60 has made a temporary top there and consolidation with downside bias remains for stronger retracement to 108.10, however, support at 107.83 should remain intact, yield rebound later.
On the upside, only above 109.23 would revive bullishness for gain to 109.50/60 but loss of momentum would cap price below 109.90/00.
Eco. calendar in the U.S. is pretty light (see our EI page for details) but do pay attention to release of weekly jobless claims and continued jobless claims to feel the pulse of latest U.S. employment situation.
A ceTraderFx Mar 12: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 12 Mar 2021 09:30GMT
USD/JPY - 109.09
Despite the greenback’s selloff from Tuesday’s fresh 7-month peak at 109.23 to 108.35 on Wednesday due to broad-based weakness in usd, intra-day rally on jump in U.S. Treasury yields suggests the pullback has ended and consolidation with upside bias remains for a re-test of aforesaid top, break would extend Medium Term upmove to 109.60/70 before prospect of correction.
On the downside, only below 108.35 would indicate a temporary top has been made and risk stronger retracement to 108.10 would be seen
T.G.I.F., U.S. will release PPI, core PPI n then University of Michigan consumer confidence at 13:30GMT n 15:00GMT respectively.
A ceTraderFx Mar 15: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 15 Mar 2021 09:30GMT
USD/JPY - 109.04
The greenback’s intra-day break above last Tuesday’s 9-month peak at 109.23 to 109.36 in Asia on rising U.S. yields suggests upmove from January’s 9-1/2 month bottom at 102.60 has once again resumed and consolidation with upside bias remains for further gain to daily objective at 109.60, however, loss of momentum would keep price below 109.90/00 and yield correction later.
On the downside, only below 108.35 would indicate a temporary top has been made and risk stronger retracement to 108.00/10 later.
U.S. has moved to summer time on Sunday and the only eco. data due out today is New York Fed mfg index due out at 12:30GMT.
A ceTraderFx Mar 16: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 16 Mar 2021 09:30GMT
USD/JPY - 109.22
The greenback’s break above last Tuesday’s 9-month peak at 109.23 to 109.36 in Asia yesterday on rising U.S. yields suggests upmove from January’s 9-1/2 month bottom at 102.60 has once again resumed and consolidation with upside bias remains for further gain to daily objective at 109.60, however, loss of momentum would keep price below 109.90/00 and yield correction later.
On the downside, only below 108.35 would indicate a temporary top has been made and risk stronger retracement to 108.00/10 later.
Data to be released on Tuesday :
Germany wholesale price index, ZEW economic sentiment, ZEW current conditions, France CPI (EU norm), CPI, Italy CPI, CPI (EU norm), EU ZEW survey expectation.
U.S. import prices, export prices, retail sales, retail sales ex-autos, industrial production, capacity utilization, manufacturing output, redbook, business inventories, NAHB housing market index.
A ceTraderFx Mar 17: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 17 Mar 2021 09:30GMT
USD/JPY - 109.15
Although dollar’s retreat from Monday’s fresh 9-month high at 109.36 suggests recent upmove has made a temporary top, yesterday’s rebound from 108.78 to 109.20 at European open today suggests pullback has ended and marginal gain would be seen after consolidation, however, loss of momentum should cap price below 109.84 today.
On the downside, only below 108.78 would risk stronger retracement to 108.35/37 before another bounce.
Data to be released on Wednesday :
New Zealand current account, Japan exports, imports, trade balance, Australia leading index.
EU construction output, HICP, core HICP.
U.S. MBA mortgage applications, building permits, housing starts, Fed interest rate decision, and Canada CPI, core CPI on Wednesday.
A ceTraderFx Mar 18: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 18 Mar 2021 09:30GMT
USD/JPY - 109.06
Despite the greenback’s rebound to 108.32 yesterday, subsequent sharp retreat in post-FOMC trading on usd’s broad-based weakness to 108.75, then 108.63 today suggests choppy trading below March’s 9-month peak at 109.36 would continue with mild downside bias and weakness to 108.50 would be seen after consolidation, however, near term loss of momentum would keep price above 108.35.
On the upside, only above 109.36 would revive bullishness for one more rise to 109.62/65 before prospect of a correction early next week.
Data to be released on Thursday :
Swiss trade balance, exports, imports, producer and import price, Italy trade balance, EU trade balance, labour costs, UK BoE interest rate decision, asset purchase program, BoE QE total, BoE QE corporate bond purchases, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPC vote cut.
U.S. initial jobless claims, continued jobless claims, Philadelphia Fed manufacturing index, leading index change, and Canada ADP employment change, new housing price index.
A ceTraderFx Mar 19: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 19 Mar 2021 09:30GMT
USD/JPY - 108.83
Despite the greenback’s rebound from 108.63 to 109.30 yesterday, intra-day fall on active cross-buying in jpy suggests choppy trading below March’s 9-month peak at 109.36 would continue with mild downside bias and weakness to 108.50 would be seen after consolidation, however, near term loss of momentum would keep price above 108.35.
On the upside, only above 109.36 would revive bullishness for one more rise to 109.62/65 before prospect of a correction early next week.
T.G.I.F., no economic data is due out today and market will take cue from intra-day move in the 10-year US yields as well as U.S. stock performance, any further weakness in the Dow will push the greenback higher.
A ceTraderFx Mar 22: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 22 Mar 2021 09:30GMT
USD/JPY - 108.68
The greenback’s intra-day gap-down open to 108.53 in New Zealand on risk-averse buying in jpy due to a selloff in Turkish lira suggests recent upmove has made a temporary top at March’s 9-month peak at 109.36 last week and consolidation with downside bias remains for stronger retracement to 108.35, however, support at 108.10 should remain intact and yield rebound later.
On the upside, only above 109.12 would indicate aforesaid correction has ended instead and risk re-test of said resistance later this week.
U.S. will release Chicago Fed national activity index n existing home sales. We have Fed Chair J. Powell (topic is on digital innovation) plus a number of Fed officials schedule to speak later today, please refer to our EI page for details.
AceTraderFx Mar 23: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 23 Mar 2021 09:30GMT
USD/JPY - 108.75
The greenback’s gap-down open to 108.53 in New Zealand yesterday on risk-averse buying in jpy due to a selloff in Turkish lira suggests recent upmove has made a temporary top at March’s 9-month peak at 109.36 last week and consolidation with downside bias remains for stronger retracement to 108.35, however, support at 108.10 should remain intact and yield rebound later.
On the upside, only above 109.12 would indicate aforesaid correction has ended instead and risk re-test of said resistance later this week.
Data to be released on Tuesday :
New Zealand Westpac consumer survey.
U.K. claimant count, ILO unemployment rate, employment change, average weekly earnings, CBI trends orders, Italy industrial order, industrial sales.
U.S. building permits R, current account, redbook, new home sales, Richmond Fed manufacturing.
A ceTraderFx Mar 24: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 24 Mar 2021 09:30GMT
USD/JPY - 108.66
The greenback’s gap-down open to 108.53 in New Zealand on Monday on risk-averse buying in jpy due to a selloff in Turkish lira and then fall to 108.41 yesterday suggests recent upmove has made a temporary top at March’s 9-month peak at 109.36 last week and consolidation with downside bias remains for stronger retracement to 108.35, however, support at 108.10 should remain intact and yield rebound later.
On the upside, only above 109.12 would indicate aforesaid correction has ended instead and risk re-test of said resistance later this week.
Data to be released on Wednesday :
New Zealand trade balance, exports, imports, Japan BoJ Mon. Pol. Meeting Minutes, Jibun Banking Mfg PMI, CPI, RPI, PPI input prices, PPI output prices.
EU markit manufacturing PMI, markit services PMI, consumer confidence, France consumer spending, markit manufacturing PMI, markit services PMI, Germany markit manufacturing PMI, markit services PMI, U.K. markit manufacturing PMI, markit services PMI, DCLG house price index.
U.S. MBA mortgage app, durable goods, durables ex-transport, durables ex-defence, markit manufacturing PMI, markit services PMI.
A ceTraderFx Mar 25: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 25 Mar 2021 09:30GMT
USD/JPY - 109.10
Despite the greenback’s fall to 108.41 on Tuesday, subsequent strong rebound to 108.95 yesterday on usd’s strength due to jump in U.S. yields and intra-day break above there suggests correction from March’s 9-month bottom at 109.36 has ended there and consolidation with upside bias would be seen, however, aforesaid top may hold on first testing and yield retreat later today.
On the downside, only below 108.67 would dampen daily bullishness and risk weakness to 108.35/41 later.
Data to be released on Thursday :
Germany GfK consumer sentiment, France business climate, Swiss SNB interest rate decision, Italy trade balance non-EU,U.S. initial jobless claims, cont. jobless claims, GDP final, GDP deflator final, PCE prices final, PCE prices final, KC Fed manufacturing.
DAILY MARKET OUTLOOK on Major