AceTraderFx Aug 12: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 12 Aug 2021 09:30GMT
USD/JPY - 110.40
Despite the greenback’s selloff to a 2-month trough at 108.73 last Wednesday, subsequent rally to 110.35 last Friday on upbeat U.S. jobs report and intra-day break above there suggests a temporary low has been made and consolidation with upside bias remains for stronger retracement to 110.60/65 before prospect of retreat later.
On the downside, only below 109.41 would indicate aforesaid recovery has ended instead and risk weakness to 109.07, then bring re-test of said support, break would extend to 108.50/60.
Data to be released on Thursday:
U.K. RICS housing price balance, GDP, industrial output, manufacturing output, construction output, trade balance, Italy trade balance, EU industrial production.
U.S. jobless claims, continuing jobless claims and PPI.
AceTraderFx Aug 13: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 13 Aug 2021 09:30GMT
USD/JPY - 110.27
Despite the greenback’s selloff to a 2-month trough at 108.73 last Wednesday, subsequent rally to 110.35 last Friday on upbeat U.S. jobs report and intra-day break above there suggests a temporary low has been made and consolidation with upside bias remains for stronger retracement to 110.60/65 before prospect of retreat later.
On the downside, only below 109.41 would indicate aforesaid recovery has ended instead and risk weakness to 109.07, then bring re-test of said support, break would extend to 108.50/60.
Data to be released on Friday:
New Zealand manufacturing PMI, Japan tertiary industry activity.
France ILO unemployment rate, CPI, Germany wholesale price index, Swiss producer/import price, EU trade balance.
U.S. import prices, export prices and University of Michigan sentiment.
AceTraderFx Aug 16: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 16 Aug 2021 09:30GMT
USD/JPY - 109.36
Despite the greenback’s selloff to a 2-month trough at 108.73 in August, subsequent rally to 110.79 last Wednesday on usd’s continued strength suggests a temporary low has been made and consolidation with upside bias remains for stronger retracement to 110.60/65 before prospect of retreat later.
On the downside, only below 109.19 would indicate aforesaid recovery has ended instead and risk weakness to 109.07, then bring re-test of said support, break would extend to 108.50/60.
Economic calendar in the U.S. is very light with New York Fed mfg index being the only data due out at 12:30GMT.
AceTraderFx Aug 17: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 17 Aug 2021 09:30GMT
USD/JPY - 109.34
Dollar cross-inspired selloff from last Wednesday’s 1-month peak at 110.79 to as low as 109.12 yesterday suggests early upmove from 108.73 (August low) has ended there and downside bias remains for further weakness, break of 108.73 needed to extend weakness towards 108.35 later this week.
On the upside, only above 109.75 signals temporary low is made and may risk stronger gain to 110.03.
Data to be released on Tuesday:
Japan tertiary industry activity.
U.K. claimant count, ILO unemployment rate, employment change, average weekly earnings, EU construction output, employment, GDP.
Canada housing starts, U.S. retail sales, redbook, industrial production, capacity utilization, manufacturing output, industrial production, business inventories, NAHB housing market index and New Zealand GDT price index.
AceTraderFx Aug 18: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 18 Aug 2021 09:30GMT
USD/JPY - 109.65
Dollar cross-inspired selloff from last Wednesday’s 1-month peak at 110.79 to as low as 109.12 on Monday suggests early upmove from 108.73 (Aug low) has ended there and downside bias remains for further weakness, break of 108.73 needed to extend weakness towards 108.35 later this week.
On the upside, only above 109.75 signals temporary low is made and may risk stronger gain to 110.03.
U.S. will release a slew of eco. data, please refer to our EI page for details. Pay attention to U.S. CPI, a higher-than-expected reading would push the greenback higher.
Last but not least, the Fed will later release previous FOMC minutes at 18:00GMT, a hawkish sounding minutes will obviously trigger usd buying.
AceTraderFx Aug 19: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 19 Aug 2021 09:30GMT
USD/JPY - 109.68
Despite the greenback’s strong rebound from Monday’s low at 109.12 to 110.22 in Asia today, subsequent sharp retreat in tandem with U.S. yields suggests further choppy trading below August’s peak at 110.79 would continue with downside bias and below 109.49 would bring weakness to 109.12, however, August’s bottom at 108.73 should hold on first testing.
On the upside, only above 110.22 would revive bullishness for gain towards 110.54, then 110.79 early next week.
ON the data front, U.S. will release initial jobless claims, continued jobless claims, Philly Fed mfg index n leading index change.
AceTraderFx Aug 20: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 20 Aug 2021 09:30GMT
USD/JPY - 109.62
Despite the greenback’s strong rebound from Monday’s low at 109.12 to 110.22 in Asia today, subsequent sharp retreat in tandem with U.S. yields suggests further choppy trading below August’s peak at 110.79 would continue with downside bias and below 109.49 would bring weakness to 109.12, however, August’s bottom at 108.73 should hold on first testing.
On the upside, only above 110.22 would revive bullishness for gain towards 110.54, then 110.79 early next week.
Data to be released on Friday:
U.K. Gfk consumer confidence, PSNB, PSNCR, retail sales, Japan nationwide CPI, Germany producer prices.
Canada retail sales and new housing price index.
AceTraderFx Aug 24: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 24 Aug 2021 09:30GMT
USD/JPY - 109.77
Despite the greenback’s strong rebound from Monday’s low at 109.12 to 110.22 in Asia today, subsequent sharp retreat in tandem with U.S. yields suggests further choppy trading below August’s peak at 110.79 would continue with downside bias and below 109.49 would bring weakness to 109.12, however, August’s bottom at 108.73 should hold on first testing.
On the upside, only above 110.22 would revive bullishness for gain towards 110.54, then 110.79 early next week.
U.S. will release a slew of second-tier eco. data, pls refer to our EI page for details.
AceTraderFx Aug 25: Daily Recommendations on Major –U SD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 25 Aug 2021 09:30GMT
Despite esterday’s cross-inspired brief break of prev. 109.49 sup to 109.42 (New York), subsequent bounce in tandem with US yields to 109.75, then intra-day gain to 109.86 suggests pullback from last week’s 110 .22 high over, above needed to head to 110.50/54.
Turn cautious buyer on dips for 110.20 as only below 109.42 may risk weakness towards 109.12.
U.S. will release durable goods at 12:30GMT n later we have S. Francisco Fed President Daly (voter) participating at an academic event at 17:00GMT.
AceTraderFx Aug 26: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 26 Aug 2021 09:30GMT
USD/JPY - 110.18
The greenback’s rally from Tuesday’s low at 109.42 to 110.12 yesterday and intra-day break above there in tandem with rising U.S. yields and cross-selling in jpy suggests further choppy trading above last Tuesday’s low at 109.12 would continue with upside bias and above reaction high at 110.22 would bring stronger retracement of near term decline from 110.79 (Aug) towards 110.54.
On the downside, only below 109.88 would indicate aforesaid recovery has ended instead and risk weakness to 109.63/66, then 109.42.
Data to be released on Thursday :
Australia capital expenditure, building capex.
Germany Gfk consumer sentiment, Swiss non-farm payrolls, France business climate, Italy industrial sale.
U.S. GDP, Core PCE prices, initial jobless claims, continuing jobless claims, KC Fed manufacturing and Canada average weekly earnings.
AceTraderFx Aug 27: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 27 Aug 2021 09:30GMT
USD/JPY - 110.13
The greenback’s rally from Tuesday’s low at 109.42 to 110.12 yesterday and yesterday’s break above there in tandem with rising U.S. yields and cross-selling in jpy suggests further choppy trading above last Tuesday’s low at 109.12 would continue with upside bias and above reaction high at 110.22 would bring stronger retracement of near term decline from 110.79 (Aug) towards 110.54.
On the downside, only below 109.88 would indicate aforesaid recovery has ended instead and risk weakness to 109.63/66, then 109.42.
Data to be released on Friday:
Japan Tokyo CPI, Australia retail sales.
France consumer confidence, Italy business confidence, consumer confidence.
U.S. personal income, personal spending, Core PCE price index, PC price index, goods trade balance, wholesale inventories, University of Michigan sentiment, Canada producer prices and budget balance.
AceTraderFx Aug 30: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 30 Aug 2021 09:30GMT
USD/JPY - 109.82
The greenback’s rally from Tuesday’s low at 109.42 to 110.12 yesterday and yesterday’s break above there in tandem with rising U.S. yields and cross-selling in jpy suggests further choppy trading above last Tuesday’s low at 109.12 would continue with upside bias and above reaction high at 110.22 would bring stronger retracement of near term decline from 110.79 (Aug) towards 110.54.
On the downside, only below 109.88 would indicate aforesaid recovery has ended instead and risk weakness to 109.63/66, then 109.42.
Data to be released later:
Japan retail sales, Australia business inventories.
Swiss KOF indicator, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI.
Canada current account, U.S. pending home sales and Dallas Fed business index on Monday.
AceTraderFx Aug 31: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 31 Aug 2021 09:30GMT
USD/JPY - 109.86
The greenback’s rally from Tuesday’s low at 109.42 to 110.12 yesterday and yesterday’s break above there in tandem with rising U.S. yields and cross-selling in jpy suggests further choppy trading above last Tuesday’s low at 109.12 would continue with upside bias and above reaction high at 110.22 would bring stronger retracement of near term decline from 110.79 (August) towards 110.54.
On the downside, only below 109.88 would indicate aforesaid recovery has ended instead and risk weakness to 109.63/66, then 109.42.
U.S. will release a slew of eco. data later today, please refer to our EI page for details and pay attention to Chicago PMI at 13:45GMT and then Conference Board consumer confidence at 14:00GMT, market forecast for both data is a lower reading, so if actual data come in as per street estimate or weaker, then one can expect more usd’s weakness.
AceTraderFx Sept 01: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 01 Sept 2021 09:30GMT
USD/JPY - 110.35
The greenback’s rally from Tuesday’s low at 109.42 to 110.12 yesterday and yesterday’s break above there in tandem with rising U.S. yields and cross-selling in jpy suggests further choppy trading above last Tuesday’s low at 109.12 would continue with upside bias and above reaction high at 110.22 would bring stronger retracement of near term decline from 110.79 (Aug) towards 110.54.
On the downside, only below 109.88 would indicate aforesaid recovery has ended instead and risk weakness to 109.63/66, then 109.42.
U.S. will release a slew of eco. data, pls refer to our EI page for details n pay attention to ADP private payrolls, then Markit mfg PMI n later ISM mfg PMI. Atlanta Fed President Bostic (voter) will speak at a virtual event at 16:00GMT.
AceTraderFx Sept 02: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 02 Sept 2021 09:30GMT
USD/JPY - 110.00
Despite the greenback’s gain to 110.41 in Europe yesterday, subsequent selloff to 109.89 in New York following the release of poor U.S. private payrolls suggests recent upmove from 109.12 has made a temporary top there and consolidation with downside bias remains for weakness to 109.60, then 109.42. However, said bottom should hold on 1st testing and yield a much-needed recovery later.
On the upside, only above 110.41 would revive bullishness for a re-test of August’s peak at 110.79, break needed to extend uptrend from 108.73 (August) towards 110.90/00 later.
Ahead of Fri’s blockbuster U.S. NFP, U.S. will release a slew of eco. data, pls refer to our EI page for details, pay attention to weekly jobless claims, continued jobless claims, then durable goods n factory orders.
We also have Atlanta Fed President Bostic n S. Francisco Fed’s Daly (both 2021 FOMC voters) speaking at 17:00GMT n 19:00GMT respectively.
AceTraderFx Sept 03: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 03 Sept 2021 09:30GMT
USD/JPY - 109.95
Despite the greenback’s gain to 110.41 in Europe on Wednesday, subsequent selloff to 109.89 in New York following the release of poor U.S. private payrolls and then to 109.80 today on news of Japan PM stepping down suggests recent upmove from 109.12 has made a temporary top there and consolidation with downside bias remains for weakness to 109.60, then 109.42. However, said bottom should hold on 1st testing and yield a much-needed recovery later.
On the upside, only above 110.41 would revive bullishness for a re-test of August’s peak at 110.79, break needed to extend uptrend from 108.73 (August) towards 110.90/00 later.
Data to be released on Friday:
Australia AIG construction index, services, PMI, Kapan services PMI, China caixin services PMI.
France budget balance, Markit services PMI, Italy Markit services PMI, Germany Markit services PMI, EU Markit services PMI, retail sales, U.K. Markit services PMI.
U.S. Non-Farm Payrolls, private payrolls, unemployment rate, average earnings, Markit services PMI, ISM non-manufacturing PMI and Canada labor productivity.
AceTraderFx Sept 06: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 06 Sept 2021 09:30GMT
USD/JPY - 109.89
Despite the greenback’s gain to 110.41 last Wednesday, subsequent selloff to 109.60 in New York on Friday following the release of poor U.S. non-farm payrolls suggests recent upmove from 109.12 has made a temporary top there and consolidation with downside bias remains for weakness to 109.42. However, said bottom should hold on 1st testing and yield a much-needed recovery later.
On the upside, only above 110.41 would revive bullishness for a re-test of August’s peak at 110.79, break needed to extend uptrend from 108.73 (August) towards 110.90/00 later.
Data to be released this week :
Germany industrial orders, U.K. Markit construction PMI, EU Sentix index on Monday.
Markets in U.S. and Canada are closed for holiday.
AceTraderFx Sept 07: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 07 Sept 2021 09:30GMT
USD/JPY - 109.97
Despite the greenback’s gain to 110.41 last Wednesday, subsequent selloff to 109.60 in New York on Friday following the release of poor U.S. non-farm payrolls suggests recent upmove from 109.12 has made a temporary top there and consolidation with downside bias remains for weakness to 109.42. However, said bottom should hold on 1st testing and yield a much-needed recovery later.
On the upside, only above 110.41 would revive bullishness for a re-test of August’s peak at 110.79, break needed to extend uptrend from 108.73 (August) towards 110.90/00 later.
Although U.S. markets will re-open after Mon’s Labor Day holiday, as no eco. data is due out, traders may take cue to movement in U.S. stocks and U.S. yields.
AceTraderFx Sept 08: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 08 Sept 2021 09:30GMT
USD/JPY - 110.15
Despite the greenback’s gain to 110.41 last Wednesday, subsequent selloff to 109.60 in New York on Friday following the release of poor U.S. non-farm payrolls suggests recent upmove from 109.12 has made a temporary top there and consolidation with downside bias remains for weakness to 109.42. However, said bottom should hold on 1st testing and yield a much-needed recovery later.
On the upside, only above 110.41 would revive bullishness for a re-test of August’s peak at 110.79, break needed to extend uptrend from 108.73 (August) towards 110.90/00 later.
On the data front, U.S. will release second-tier data, please refer to our EI page for details. New York fed President Williams (voter) will speak at 17:10GMT.
AceTraderFx Sept 09: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 09 Sept 2021 09:30GMT
USD/JPY - 109.91
Dollar’s intra-day decline due to active safe-haven yen buying on continued weakness in global stocks suggests recent erratic rise has made a temporary top at Wednesday’s 3-1/2 week peak at 110.44 and below 109.60 sup would bring further weakness towards 109.42, however, reckon 109.12 should remain intact.
On a daily close above 110.15 signals pullback is over, outlook would improve for re-test of 110.44, then gain towards August’s peak at 110.79 later next week.
U.S. will later release weekly jobless claims and continued jobless claims.
Last but not least, we have an army of Fed officials (8 in total!) scheduled to speak ahead of next week’s blackout ahead of September 21-22 FOMC meeting, please refer to our EI page for details.
DAILY MARKET OUTLOOK on Major