A ceTraderFx Mar 26: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 26 Mar 2021 09:30GMT
USD/JPY - 109.45
Dollar’s intra-day break of previous March’s 9-month high at 109.36 confirms upmove from January’s 9-1/2 month trough at 102.60 has once again resumed and gain to 109.80/84 would be seen after consolidation, however, loss of moment should cap price below 110.00 today.
On the downside, only below 108.95 indicates temporary top is in place and risks weakness to 108.67, break, 108.41/46.
Data to be released on Friday :
Japan Tokyo CPI.
U.K. retail sales, retail sales ex-fuel, Germany Ifo business climate, Ifo current conditions, Ifo expectations, Italy business confidence, consumer confidence.
U.S. trade balance, wholesale inventories, personal income, personal spending, PCE price index, U. Mich. sentiment, Canada budget balance.
A ceTraderFx Mar 29: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 29 Mar 2021 09:30GMT
USD/JPY - 109.66
Although price has retreated after dollar’s resumption of upmove from January’s 9-1/2 month bottom at 102.60 to a fresh 9-month peak at 109.84 and minor consolidation would be seen before said uptrend heads to 110.10/15 later today, loss of momentum would prevent sharp move beyond and reckon 110.47/50 would limit upside and yield correction.
On the downside, only below 109.14 would indicate a temporary top has been made and risk stronger retracement to 108.67/70 before prospect of rebound.
U.S. eco. calendar is very thin today with Dallas Fed mfg business index for Mar being the only data due out at 15:30GMT.
A ceTraderFx Mar 30: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 30 Mar 2021 09:30GMT
USD/JPY - 110.24
The greenback’s intra-day rise above last Friday’s 9-month peak at 109.84 on usd’s continued strength suggests MT upmove from January’s 9-1/2 month bottom at 102.60 remains in progress and further gain to 110.70 would be seen after consolidation, however, over bought condition would keep price below psychological handle at 111.00 and bring a much-needed correction.
On the downside, only a daily close below 109.38 would indicate at temporary top has been made and risk stronger retracement to 108.95/00.
Later today, U.S. will release a slew of eco. data including consumer confidence (please refer to our EI page for details).
We also have several Fed officials scheduled to speak in New York morning and afternoon sessions.
A ceTraderFx Mar 31: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 31 Mar 2021 09:30GMT
USD/JPY - 110.60
The greenback’s intra-day rise above Tuesday’s 1-year peak at 110.42 to 110.96 on usd’s continued strength suggests Medium Term upmove from January’s 9-1/2 month bottom at 102.60 remains in progress and further gain to 111.15/20 would be seen after consolidation, however, over bought condition would keep price below 111.40/50 and bring a much-needed correction.
On the downside, only a daily close below 109.38 would indicate at temporary top has been made and risk stronger retracement to 108.95/00.
Data to be released later :
Germany import prices, unemployment change, unemployment rate, U.K. GDP, nationwide house price, France consumer spending, CPI, producer prices, Swiss investor sentiment, EU HCIP, Italy CP.
U.S. MBA mortgage app, ADP employment change, Chicago PMI, pending home sales, Canada GDP, producer prices.
A ceTraderFx Apr 01: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 01 Apr 2021 09:30GMT
USD/JPY - 110.73
The greenback’s rise above Tuesday’s 1-year peak at 110.42 to 110.96 yesterday on usd’s continued strength suggests MT upmove from January’s 9-1/2 month bottom at 102.60 remains in progress and further gain to 111.15/20 would be seen after consolidation, however, over bought condition would keep price below 111.40/50 and bring a much-needed correction.
On the downside, only a daily close below 109.84 would indicate at temporary top has been made and risk stronger retracement to 109.35/40.
Data to be released on Thursday :
Germany retail sales, Markit manufacturing PMI, Swiss CPI, retail sales, manufacturing PMI, Italy Markit manufacturing PMI, France Markit manufacturing PMI, EU Markit manufacturing PMI, U.K. Markit manufacturing PMI.
U.S. initial jobless claims, cont. jobless claims, Markit manufacturing PMI, construction spending, ISM manufacturing PMI, Canada building permits, Markit manufacturing PMI.
AceTraderFx Apr 07: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 07 Apr 2021 09:30GMT
USD/JPY - 109.93
Although dollar’s retreat in tandem with US Treasury yields from last Wednesday’s 1-year peak at 110.96 to 109.59 today suggests upmove from January’s 9-1/2 month 102.60 bottom has made a temporary top, reckon near term loss of momentum would keep price above support at 109.38 and yield a much-needed rebound later this week.
On the upside, only above Tuesday’s high at 110.55 would indicate aforesaid pullback has ended instead and turn outlook bullish for a re-test of aforesaid peak.
On the calendar front, we have some Fed officials due to speak later in New York session, please refer to our EI page for more details. Also, FOMC meeting minutes will be released at 18:00 GMT.
A ceTraderFx Apr 08: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 08 Apr 2021 09:30GMT
USD/JPY - 109.51
Although dollar’s intra-day break below yesterday’s low at 109.59 signals decline from March’s 1-year peak at 110.96 remains in progress and marginal weakness from here is likely to be seen, reckon 109.30/35 would contain downside due to near term loss of momentum and bring a much-needed rebound later, above 109.95/00 would retain bullishness for gain to 110.15.
On the downside, only below 109.10/15 would risk one more fall to 108.90/95 before prospect of a rebound later.
On the data front, U.S. will release weekly jobless claims data with street forecast at 680k versus prior readings of 719k. We also have a few Fed officials due to speak with focus on Federal Reserve Chairman J. Powell scheduled to speak at 16:00 GMT in virtual International Monetary Fund Seminar.
A ceTraderFx Apr 09: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 09 Apr 2021 09:30GMT
USD/JPY - 109.52
Despite the greenback’s erratic decline from March’s 1-year peak at 110.96 to a 2-week bottom at 109.01 yesterday in tandem with falling U.S. yields, subsequent rebound suggests a temporary low has possibly been made and consolidation with upside bias remains for stronger retracement to 109.94/97, however, 110.38 (previous support) should remain intact and yield retreat early next week.
On the downside, only below 109.01 would revive bearishness for one more fall to 108.67/70 before prospect of correction due to loss of momentum.
Data to be released on Friday:
Swiss unemployment, Germany industrial output, exports, imports, trade balance, current account, France industrial output, UK house prices, Italy retail sales.
Canada employment change, unemployment rate, U.S. PPI, wholesale inventory and wholesale sales.
A ceTraderFx Apr 12: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 12 Apr 2021 09:30GMT
USD/JPY - 109.46
Despite the greenback’s erratic decline from March’s 1-year peak at 110.96 to a 2-week bottom at 109.01 Thursday in tandem with falling U.S. yields, subsequent rebound suggests a temporary low has possibly been made and consolidation with upside bias remains for stronger retracement to 110.10/15, however, 110.38 (previous support) should remain intact and yield retreat early next week.
On the downside, only below 109.01 would revive bearishness for one more fall to 108.67/70 before prospect of correction due to loss of momentum.
Later in New York session, we have Boston Fed’s President Eric Rosengren scheduled to speak at 17:00 GMT.
A ceTraderFx Apr 13: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 13 Apr 2021 09:30GMT
USD/JPY - 109.39
Despite the greenback’s erratic decline from March’s 1-year peak at 110.96 to a 2-week bottom at 109.01 Thursday in tandem with falling U.S. yields, subsequent rebound suggests a temporary low has possibly been made and consolidation with upside bias remains for stronger retracement to 110.10/15, however, 110.38 (previous support) should remain intact and yield retreat early next week.
On the downside, only below 109.01 would revive bearishness for one more fall to 108.67/70 before prospect of correction due to loss of momentum.
Data to be released on Tuesday :
New Zealand NZIER confidence, retail sales, Australia NAB business conditions, NAB business confidence.
U.K. BRC retail sales, GDP, Industrial output, manufacturing output, construction output, trade balance, Italy industrial output, Germany wholesale price index, ZEW economic sentiment, ZEW current conditions, EU ZEW survey expectation.
U.S. core CPI, CPI, redbook.
A ceTraderFx Apr 14: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 14 Apr 2021 09:30GMT
USD/JPY - 108.97
Although the greenback’s fall below last Thursday’s 2-week bottom at 109.01 signals decline from March’s 1-year peak at 110.96 has once again resumed and consolidation with downside bias remains for weakness to 108.67, reckon near term loss of momentum would keep price above 108.41 today and yield a much-needed correction later this week.
On the upside, only above 109.75/77 would indicate a temporary low has been made and risk a stronger retracement of aforesaid downtrend to res 109.95.
Data to be released on Wednesday :
Japan machinery orders, China exports, trade balance, Australia consumer sentiment, New Zealand RBNZ interest rate decision.
EU industrial production, U.S. MBA mortgage app, import prices, export prices.
A ceTraderFx Apr 15: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 15 Apr 2021 09:30GMT
USD/JPY - 108.74
Although the greenback’s intra-day break below yesterday’s near 3-week bottom at 108.76 signals decline from March’s 1-year peak at 110.96 has once again resumed and consolidation with downside bias remains for weakness to 108.67, reckon near term loss of momentum would keep price above 108.41 today and yield a much-needed correction later this week.
On the upside, only above 109.75/77 would indicate a temporary low has been made and risk a stronger retracement of aforesaid downtrend to res 109.95
The U.S. will release a slew of eco. data later today (please refer to EI page for details) n pay attention to March retail sales, a stronger-than-expected number (forecast is 5.9% vs prev. reading of -3.0%) will lifted U.S. yields n in turn, the greenback. We have have a number of Fed officials scheduled to speak in New York session.
USD/JPY is the forex ticker that shows the value of the US Dollar against the Japanese Yen. It tells traders how many Yen are needed to buy a US Dollar. The Dollar-Yen is one of the most traded forex pairs – second only to EUR/USD – and is a benchmark for Asian economic health and even the global economy. View the live Dollar-Yen rate with the USD/JPY chart and improve your technical and fundamental analysis with the latest USD/JPY forecast, news and analysis.
A ceTraderFx Apr 16: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 16 Apr 2021 09:30GMT
USD/JPY - 108.88
Although the greenback’s break below Wednesday’s near 3-week bottom at 108.76 to 108.62 yesterday signals decline from March’s 1-year peak at 110.96 has once again resumed and consolidation with downside bias remains for marginal weakness, reckon near term loss of momentum would keep price above 108.41 today and yield a much-needed correction early next week.
On the upside, only above 109.25/30 would indicate a temporary low has been made and risk a stronger retracement of aforesaid downtrend to res 109.75/77.
T.G.I.F., U.S. will later release building permits , housing starts n University of Michigan consumer confidence. Dallas Fed President Kaplan will speak at 14:45GMT n then 16:30GMT.
AceTraderFx Apr 19: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 19 Apr 2021 09:30GMT
USD/JPY - 108.04
The greenback’s intra-day fall below last Thursday’s 3-week trough at 108.62 signals decline from March’s 1-year peak at 110.96 has once again resumed and downside bias remains for weakness to 107.77, however, oversold condition would prevent sharp fall below there and reckon support at 107.40/50 would remain intact and yield a much-needed correction later this week.
On the upside, only above 108.62 would indicate a temporary bottom has been made and risk stronger retracement to 108.96/00.
No eco. data is due out from the U.S. so traders need to take cue from intra-day movement in U.S. yields n U.S. stock futures.
AceTraderFx Apr 20: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 20 Apr 2021 09:30GMT
USD/JPY - 108.49
The greenback’s intra-day break below yesterday’s 6-week trough at 108.02 signals decline from March’s 1-year peak at 110.96 has once again resumed and downside bias remains for weakness to 107.77, however, over sold condition would prevent sharp fall below there and reckon support at 107.40/50 would remain intact and yield a much-needed correction later this week.
On the upside, only above 108.62 would indicate a temporary bottom has been made and risk stronger retracement to 108.96/00.
U.S. economic calendar is pretty light with 2nd-tier Redbook sales being the only data due out later today, so traders will take cue from intra-day move in benchmark U.S. 10-year yield and U.S. S&P 500 stock futures index.
AceTraderFx Apr 21: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 21 Apr 2021 09:30GMT
USD/JPY - 108.24
Despite dollar’s resumption of decline from March’s 1-year peak at 110.96 to a 6-week bottom of 107.88 at Asian open today, intra-day bounce in tandem with recovery in US yields suggests temporary low is possibly made and above 108.54/62 would bring stronger retracement to 108.80/85 but 109.09 should hold today, yield retreat.
On the downside, below 107.88 would risk marginal weakness to 107.77 before prospect of rebound due to loss of momentum.
U.S. economic calendar is very thin with 2nd-tier MBA mortgage applications being the only data out later today, therefore, traders will continue to take cue from intra-day moves in US yields n US stock futures as dlr rallied in tandem with intra-day bounce in US yields in Europe yesterday and later fell as US yields came off again on weakness in U.S. stocks.
AceTraderFx Apr 22: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 22 Apr 2021 09:30GMT
USD/JPY - 108.05
Despite dollar’s resumption of decline from March’s 1-year peak at 110.96 to a fresh 6-week bottom of 107.82 in early European morning today, subsequent bounce in tandem with recovery in US yields suggests temporary low is possibly made and above 108.54/62 would bring stronger retracement to 108.80/85 but 109.09 should hold today, yield retreat.
On the downside, below 107.82 would risk marginal weakness to 107.77 before prospect of rebound due to loss of momentum.
Data to be released on Thursday :
Swiss trade balance, exports, imports, France business climate, Italy industrial sales, U.K. CBI trends orders, EU ECB refinancing rate, ECB deposit rate, consumer confidence.
U.S. initial jobless claims, continuous jobless claims, existing home sales, leading index change, KC Fed manufacturing , Canada new housing price index.
AceTraderFx Apr 23: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 23 Apr 2021 09:30GMT
USD/JPY - 107.90
Despite dollar’s resumption of decline from March’s 1-year peak at 110.96 to a fresh 6-week bottom of 107.82 in early European morning yesterday, subsequent bounce in tandem with recovery in US yields suggests temporary low is possibly made and above 108.54/62 would bring stronger retracement to 108.80/85 but 109.09 should hold today, yield retreat.
On the downside, below 107.82 would risk marginal weakness to 107.77 before prospect of rebound due to loss of momentum.
Data to be released on Friday :
U.K. Gfk consumer confidence, PSNB GBP, PSNCR GBP, retail sales, markit manufacturing PMI, markit services PMI, France markit manufacturing PMI, markit services PMI, consumer confidence, Germany markit manufacturing PMI, markit services PMI, EU markit manufacturing PMI, markit services PMI.
U.S. building permits, markit manufacturing PMI, markit services PMI, new homes sales.
AceTraderFx Apr 26: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 26 Apr 2021 09:30GMT
USD/JPY - 107.72
Despite dollar’s resumption of decline from March’s 1-year peak at 110.96 to a fresh 6-week bottom of 107.49 in at New York open on Friday, subsequent bounce in tandem with recovery in US yields suggests temporary low is possibly made and above 108.54/62 would bring stronger retracement to 108.80/85 but 109.09 should hold today, yield retreat.
On the downside, below 107.49 would risk marginal weakness to 107.77 before prospect of rebound due to loss of momentum.
Data to be released later today:
Germany Ifo business climate, Ifo current conditions, Ifo expectations.
U.S. durable goods, durables ex-transport, durables ex-defence, Dallas Fed manufacturing index on Monday.
DAILY MARKET OUTLOOK on Major