AceTraderForex April 25: Daily Market Outlook on USD/JPY

Trading Discussion Currencies
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AceTraderFx Apr 27: Daily Recommendations on Major –USD/JPY

flag_yen DAILY MARKET OUTLOOK on Major
Update Time : 27 Apr 2021 09:30GMT

USD/JPY - 108.34
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 to 108.19 yesterday, then 108.38 today 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 on Tuesday :
Italy business confidence, consumer confidence, trade balance, U.K. CBI distributive trades.
U.S. redbook, monthly home price, consumer confidence, Richmond Fed manufacturing.

870

AceTraderFx Apr 28: Daily Recommendations on Major –USD/JPY

flag_yen DAILY MARKET OUTLOOK on Major
Update Time : 28 Apr 2021 09:30GMT

USD/JPY - 108.98
Dollar’s rally from last Friday’s 6-week low at 107.49 to 108.77 yesterday, then intra-day break there on rise in U.S. yields suggests decline from March’s 1-year 110.96 peak has made a temporary bottom and stronger retracement to 109.70/75 would be seen after consolidation before prospect of retreat due to overbought condition.

On the downside, only below 108.50/54 indicates top made and risks weakness to 108.38/42, then 108.19, however, reckon 107.91/95 should hold.

Data to be released on Wednesday :
U.K. BRC shop price index, Japan retail sales, Australia CPI, Germany Gfk consumer sentiment, France consumer confidence, Swiss investor sentiment.
U.S. MBA mortgage application, trade balance, wholesale inventories, Fed interest rate decision, Canada retail sales.

871

AceTraderFx Apr 29: Daily Recommendations on Major –USD/JPY

flag_yen DAILY MARKET OUTLOOK on Major
Update Time : 29 Apr 2021 09:30GMT

USD/JPY - 108.90
Despite yesterday’s retreat from a near 2-week high at 109.07 to 108.58 in post-FOMC New York, then 108.44 at Asian open today, intra-day rise in tandem with U.S. yields suggests pullback has ended and upmove from April’s 6-week 107.49 trough would head to 109.20/25 after consolidation, however, reckon 109.75/77 should cap upside today.

On the downside, only below 108.38/44 would risk weakness to 108.08, then possibly 107.91/95.

Financial markets in Japan are closed for Showa Day holiday, the first of 4 days of Golden Week holiday (next is Monday). U.S. will release a slew of eco. data, pay attention to Q1 GDP, PCE (Fed’s preferred inflation gauge) and jobless claims.
Also, we have Fed officials Quarles and Williams speaking at 15:00GMT n 18:00GMT respectively.

872

Such an informative thread! I am glad that I found it.

873

AceTraderFx Apr 30: Daily Recommendations on Major –USD/JPY

flag_yen DAILY MARKET OUTLOOK on Major
Update Time : 30 Apr 2021 09:30GMT

USD/JPY - 108.86
The greenback’s break above Wednesday’s high at 109.07 to a 2-week peak at 109.22 yesterday on rally in U.S. yields suggests upmove from last Friday’s 6-week bottom at 107.49 to retrace decline from March’s 1-year peak at 110.96 remains in progress and further gain to 109.59 would be seen after consolidation, however, loss of momentum would keep price below 109.90/00 and yield correction early next week.

On the downside, only below 108.44 would indicate a temporary top has been made and risk stronger retracement to 108.08/10 before prospect of a rebound.

T.G.I.F., U.S. will release a slew of eco. data on the last trading day in Apr, pls refer to our EI page for details. Pay attention to PCE index (Fed’s preferred inflation gauge) n later Chicago PMI n then University of Michigan consumer confidence. Dallas Fed President Kaplan will speak at 13:45GMT.

874

Thanks for sharing!

875

AceTraderFx May 03 : Daily Recommendations on Major –USD/JPY

flag_yen DAILY MARKET OUTLOOK on Major
Update Time : 03 May 2021 09:30GMT

USD/JPY - 109.67
The greenback’s break above Friday’s high at 109.27 to a 2-week peak at 109.67 today on usd’s continued strength suggests upmove from last Friday’s 6-week bottom at 107.49 to retrace decline from March’s 1-year peak at 110.96 remains in progress and further gain to 109.95/00 would be seen after consolidation, however, loss of momentum would keep price below 110.20/25 and yield correction early next week.

On the downside, only below 108.44 would indicate a temporary top has been made and risk stronger retracement to 108.08/10 before prospect of a rebound.

The U.S. will later release a slew of eco. data, please refer to our EI page for details n pay attention to Markit mfp index n ISM mfg PMI. We also have New York Fed Williams n last but not least, Fed chief’s J. Powell speaking at 18:10GMT n 18:20GMT respectively.

876

AceTraderFx May 04 : Daily Recommendations on Major –USD/JPY

flag_yen DAILY MARKET OUTLOOK on Major
Update Time : 04 May 2021 09:30GMT

USD/JPY - 109.37
The greenback’s break above Friday’s high at 109.27 to a 2-week peak at 109.69 yesterday on usd’s continued strength suggests upmove from last Friday’s 6-week bottom at 107.49 to retrace decline from March’s 1-year peak at 110.96 remains in progress and further gain to 109.95/00 would be seen after consolidation, however, loss of momentum would keep price below 110.20/25 and yield correction early next week.

On the downside, only below 108.44 would indicate a temporary top has been made and risk stronger retracement to 108.08/10 before prospect of a rebound.

U.S. will later release a slew of eco. data later today, please refer to our EI page for details n pay attention to Mar durable goods n factory orders at 14:00GMT. Dallas n Minneapolis Fed Presidents are scheduled to speak at 17:00GMT, then later San Franciso Fed President Daly.

877

AceTraderFx May 05 : Daily Recommendations on Major –USD/JPY

flag_yen DAILY MARKET OUTLOOK on Major
Update Time : 05 May 2021 09:30GMT

USD/JPY - 109.36
The greenback’s break above Friday’s high at 109.27 to a 2-week peak at 109.69 on Monday on usd’s continued strength suggests upmove from last April’s 6-week bottom at 107.49 to retrace decline from March’s 1-year peak at 110.96 remains in progress and further gain to 109.95/00 would be seen after consolidation, however, loss of momentum would keep price below 110.20/25 and yield correction early next week.

On the downside, only below 108.44 would indicate a temporary top has been made and risk stronger retracement to 108.08/10 before prospect of a rebound.

Data to be released on Wednesday :
Australia AIG construction index, services PMI, building permits, New Zealand unemployment rate, employment change, labour cost.
Swiss CPI, Italy markit services PMI, France markit services PMI, Germany markit services PMI, EU markit services PMI, producer prices.
U.S. MBA mortgage app, ADP employment change, markit services PMI, ISM non-manufacturing PMI.

878

AceTraderFx May 06 : Daily Recommendations on Major –USD/JPY

flag_yen DAILY MARKET OUTLOOK on Major
Update Time : 06 May 2021 09:30GMT

USD/JPY - 109.35
The greenback’s sideways move after Monday’s break above last Friday’s high at 109.27 to a 2-week peak at 109.69 suggests upmove from last April’s 6-week bottom at 107.49 to retrace decline from March’s 1-year peak at 110.96 remains in progress and further gain to 109.95/00 would be seen after consolidation, however, loss of momentum would keep price below 110.20/25 and yield correction early next week.

On the downside, only below 108.44 would indicate a temporary top has been made and risk stronger retracement to 108.08/10 before prospect of a rebound.

Data to be released on Thursday :
New Zealand building permits, ANZ business confidence, ANZ activity outlook.
Germany industrial orders, U.K. markit services PMI, BOE interest rate decision, asset purchase program, BOE QE total, BOE QE corporate bond purchases, BoE MPC ote hike, BoE MPC vote unchanged, BoE MPC vote cut, EU retail sales.
U.S. initial jobless claims, continuous jobless claims, labour costs, productivity.

879

AceTraderFx May 07 : Daily Recommendations on Major –USD/JPY

flag_yen DAILY MARKET OUTLOOK on Major
Update Time : 07 May 2021 09:30GMT

USD/JPY - 109.14
The greenback’s sideways move after Monday’s break above last Friday’s high at 109.27 to a 2-week peak at 109.69 suggests upmove from last April’s 6-week bottom at 107.49 to retrace decline from March’s 1-year peak at 110.96 remains in progress and further gain to 109.95/00 would be seen after consolidation, however, loss of momentum would keep price below 110.20/25 and yield correction early next week.

On the downside, only below 108.44 would indicate a temporary top has been made and risk stronger retracement to 108.08/10 before prospect of a rebound.

Data to be released on Friday :
Australia AIG services index, Japan Services PMI, China Caixin services PMI, exports, imports, trade balance, New Zealand inflation forecast
Swiss unemployment rate, Germany industrial output, exports, imports, trade balance, current account, France current account, industrial output, non-farm payrolls, trade balance, imports, exports, Italy retail sales, U.K. Markit construction PMI.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, wholesale inventory, wholesale sales, Canada employment change, unemployment rate, Ivey PMI.

880

AceTraderFx May 10 : Daily Recommendations on Major –USD/JPY

flag_yen DAILY MARKET OUTLOOK on Major
Update Time : 10 May 2021 09:30GMT

USD/JPY - 108.93
The greenback’s selloff from 109.28 to as low as 108.35 at New York open on Friday on the release of poor U.S. jobs report suggests upmove from April’s 6-week bottom at 107.49 has made a temporary top at 109.69 last Monday and consolidation with downside bias remains and weakness to 108.60/65 is likely, however, 108.47/50 should remain intact and yield rebound later this week.

On the upside, only above 109.15 would indicate aforesaid correction has ended instead and bring gain to 109.48, then 109.69 again.

Data to be released today:
Australia NAB business conditions, NAB business confidence, retail sales.
U.K. Halifax house prices, EU Sentix index.
Canada leading index on Monday.

881

AceTraderFx May 11 : Daily Recommendations on Major –USD/JPY

flag_yen DAILY MARKET OUTLOOK on Major
Update Time : 11 May 2021 09:30GMT

USD/JPY - 108.86
The greenback’s selloff from 109.28 to as low as 108.35 at New York open on Friday on the release of poor U.S. jobs report suggests upmove from April’s 6-week bottom at 107.49 has made a temporary top at 109.69 last Monday and consolidation with downside bias remains and weakness to 108.60/65 is likely, however, 108.47/50 should remain intact and yield rebound later this week.

On the upside, only above 109.15 would indicate aforesaid correction has ended instead and bring gain to 109.48, then 109.69 again.

On the data front, U.S. will release some second-tier eco. indicators, however, we have 5 Fed officials schedule to speak later today, please refer to our EI page for details.

882

AceTraderFx May 12 : Daily Recommendations on Major –USD/JPY

flag_yen DAILY MARKET OUTLOOK on Major
Update Time : 12 May 2021 09:30GMT

USD/JPY - 108.79
Although dollar’s rebound from yesterday’s 108.36 low suggests choppy trading above last Friday’s 108.35 trough would be seen, as long as 109.05 (Monday’s high) holds, downside bias remains and below said support would extend decline from May’s near 3-week 109.69 peak to 108.22 (61.8% r from 107.49) but 108.08 should hold, yield another bounce.

On the upside, only above 109.05 risks gain to 109.28, break, 109.42/48 later.

U.S. will release a slew of eco. data (please refer to our EI page for details), after Friday’s blockbuster U.S. jobs report, traders are keeping an eye out for CPI figures, a higher print will send U.S. yields higher and this will turn lead to usd buying n vice versa.

883

AceTraderFx May 13 : Daily Recommendations on Major –USD/JPY

flag_yen DAILY MARKET OUTLOOK on Major
Update Time : 13 May 2021 09:30GMT

USD/JPY - 109.56
The greenback’s rally yesterday on the release of upbeat U.S. inflation data together with jump in U.S. yields and break of May’s 3-week peak at 109.69 signals erratic upmove from April’s bottom at 107.49 has finally resumed and further gain to 110.20/30 would be seen after consolidation, however, loss of momentum would keep price below 110.50/60 and yield a much-needed correction later.

On the downside, only below 108.98/05 would indicate a temporary top has been made and risk stronger retracement to 108.58, then 108.35/36.

As many European centres are closed for Ascension Day holiday, traders will look to release of U.S. eco. data later today, pay attention to weekly jobless claims, continued jobless claims as well as PPI n core PPI, all due out at 12:30GMT. We also have a number of Fed officials scheduled to speak in New York session, pls refer to our EI page for details.

884

AceTraderFx May 14 : Daily Recommendations on Major –USD/JPY

flag_yen DAILY MARKET OUTLOOK on Major
Update Time : 14 May 2021 09:30GMT

USD/JPY - 109.28
Despite the greenback’s rally on Wednesday on the release of upbeat U.S. inflation data to a 1-month peak at 109.78 yesterday, intra-day retreat suggests the upmove from March’s bottom at 107.49 has possibly made a temporary top there and choppy trading with downside bias would be seen, however, 108.98/05 should remain intact and yield another rebound early next week.

On the upside, only above 109.65 would revive bullishness for a re-test of said resistance, break would head to 110.05/10 before prospect of correction.

T.G.I.F., however, U.S. will later release a slew eco. data (please refer to our EI page for details) which are expected to move the buck. Please pay attention to retail sales, industrial production n later University of Michigan consumer confidence, a higher-than-expected reading on these data vs forecast will give usd a boost. Dallas Fed President Kaplan (non-voter) will speak at 17:00GMT.

885

This is the beauty of babypips that when nothing works, it is this forum that comes as your saviour. You just have to know what you are looking for and what you need help with and there will be several traders who will come to your rescue. There are also threads like this where you can find all the information you need about a trade.

886

AceTraderFx May 17 : Daily Recommendations on Major –USD/JPY

flag_yen DAILY MARKET OUTLOOK on Major
Update Time : 17 May 2021 09:30GMT

USD/JPY - 109.28
Despite the greenback’s rally last Wednesday on the release of upbeat U.S. inflation data to a 1-month peak at 109.78 Thursday, subsequent retreat on weak US retail sales data Friday suggests the upmove from March’s bottom at 107.49 has possibly made a temporary top there and choppy trading with downside bias would be seen, however, 108.98/05 should remain intact and yield another rebound.

On the upside, only above 109.65 would revive bullishness for a re-test of said resistance, break would head to 110.05/10 before prospect of correction.

On the data front, U.S. will later release New York fed mfg index n then NAHB housing market index.
Fed’s Vice Chairman Clarida will speak at a financial forum at 14:05GMT.

887

AceTraderFx May 18 : Daily Recommendations on Major –USD/JPY

flag_yen DAILY MARKET OUTLOOK on Major
Update Time : 18 May 2021 09:30GMT

USD/JPY - 108.88
Despite the greenback’s rally last Wednesday on the release of upbeat U.S. inflation data to a 1-month peak at 109.78 Thursday, subsequent retreat on weak US retail sales data Friday suggests the upmove from March’s bottom at 107.49 has possibly made a temporary top there and choppy trading with downside bias would be seen, however, 108.98/05 should remain intact and yield another rebound.

On the upside, only above 109.65 would revive bullishness for a re-test of said resistance, break would head to 110.05/10 before prospect of correction.

On the data front, U.S. will release 2nd-tier eco. data (pls refer to our EI page for details), however, we have Atlanta Fed President Bostic (voter) n Dallas Fed President Kaplan (non-voter) speaking in New York session ahead of release of Wednesday’s Fed minutes.

888

AceTraderFx May 20 : Daily Recommendations on Major –USD/JPY

flag_yen DAILY MARKET OUTLOOK on Major
Update Time : 20 May 2021 09:30GMT

USD/JPY - 108.96
Despite the dollar’s selloff from 109.33 to as low as 108.58 yesterday, subsequent strong rebound to 109.30 in Asia today due to rising U.S. yields following the release of hawkish FOMC minutes suggests near term decline from last week’s 1-month peak at 109.78 has made a temporary low there and consolidation with upside bias remains for gain to 109.50, however, said top would hold on first testing.

On the downside, only below 108.58 would revive bearishness for stronger retracement of rise from 107.48 (April) to 108.35/36.

Data to be released on Thursday:
Japan Machinery orders, exports, imports, trade balance, Australia employment change, unemployment change.
Germany producer prices, EU construction output, current account, U.K. CBI trends orders.
U.S. initial jobless claims, continuous jobless claims, Philly Fed Manufacturing index, leading index change, Canada ADP employment change, new housing price index.