AceTraderForex April 25: Daily Market Outlook on USD/JPY

Trading Discussion Currencies
83

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]29 Oct 2015[/B] [I] 08:26 GMT[/I]

[B]USD/JPY - 120.73[/B]
Despite the greenback’s rally from 120.02 to 121.26 yesterday on the release of a unexpected hawkish FOMC statement, subsequent retreat suggests further choppy trading below Monday’s high at 121.51 would continue with mild downside bias and weakness towards 120.20/23 would be seen, however, aforesaid 120.02 low should remain intact and yield rebound early next week.

On the upside, only above 121.51 would revive bullishness for gain towards daily resistance at 121.74, break would extend towards 122.10/15.

84

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]30 Oct 2015[/B] [I]09:31 GMT[/I]

[B]USD/JPY - 120.53[/B]
Despite dollar’s intra-day rally from 120.30 to 121.48 in Asia following the release of Bank of Japan unchanged rate decision, subsequent retreat after being capped below Monday’s 7-week peak at 121.51 suggests further choppy trading inside near term established range of 121.51-120.02 would continue.

Above 121.48/51 would bring resumption of upmove from October’s bottom at 118.06 to 121.74 and then 122.10/20, whilst below 120.02 would confirm a top has been made instead and yield correction towards 119.62 next.

85

[B]Intra-day Market Moving News and Views
02 Nov 2015[/B] [I] 01:05GMT[/I]

[B]USD/JPY[/B] - ........ Despite intra-day gap-down open to 120.32 in New Zealand due to the release of weak Chinese data over the weekend, failure to penetrate Friday's low at 120.28 triggered short-covering and price rebounded to 120.58 ahead of Tokyo open.

However, dlr met renewed selling interest there as the Nikkei-225 index tumbled in early trade (currently down by close to 300 points) and continues to remain under pressure.

Pay attention to the release of ISM manufacturing PMI at 15:00GMT. Street forecast is for a slight drop to 50.0 from previous reading of 50.2.

Offers are now seen at 120.50/60 and more above at 120.70/80 with stops building up above there whilst initial bids are noted at 120.00/10, suggesting mild downside bias would be seen in Asian session.

[B]Data to be released : [/B]

Australia AIG manufacturing index, building approvals, private house approvals, Japan Nikkei manufacturing PMI, China Caixin manufacturing PMI, Switzerland retail sales, Markit manufacturing PMI for Italy, Germany, euro zone and UK, Canada RBC manufacturing PMI, U.S. ISM manufacturing PMI on Monday.

Australia RBA cash rate decision, RBA rate statement, UK Markit/CIPS consutruction PMI, U.S. Redbook, durable goods revised, factory orders on Tuesday.

New Zealand HLFS jobs reports, labour cost index, Australia AIG service index, trade balance, exports, imports, retails sales, UK BRC shop price index, China Caixin service PMI, Japan consumer confidence, Markit service PMI for Italy, France, Germany, euro zone and UK, euro zone producer price, U.S. ADP national employment, internation trade, Markit service PMI, ISM non-manufacturing PMI, and Canada trade reports on Wednesday.

Japan BoJ monetary policy meeting minutes, Switzerland consumer confidence, CPI, Germany industrial orders, euro zone retail sales, U.K. BoE MPC vote outcome, BoE rate decision, U.S. initial jobless claims, and Canada Ivey PMI on Thursday.

Australia AIG construction index, Japan leading indicator, Germany industrial output, France budget balance, trade reports, U.K. Halifax house price, industrial output, manufacturing output, trade balance, U.S. non-farm payrolls, unemployment rate, average earnings, and Canada building permits, employment change, unemployment rate on Friday.

86

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]02 Nov 2015[/B] [I]08:30 GMT[/I]

[B]USD/JPY - 120.52[/B]
Despite dollar’s intra-day rally from 120.30 to 121.48 in Asia on Friday following the release of Bank of Japan unchanged rate decision, subsequent retreat after being capped below Monday’s 7-week peak at 121.51 suggests further choppy trading inside near term established range of 121.51-120.02 would continue.

Above 121.48/51 would bring resumption of upmove from October’s bottom at 118.06 to 121.74 and then 122.10/20, whilst below 120.02 would confirm a top has been made instead and yield correction towards 119.62 next.

87

[B]DAILY MARKET OUTLOOK[/B]
Update Time:[B] 03 Nov 2015[/B] [I]08:22 GMT[/I]

[B]USD/JPY - 120.71[/B]
Despite dollar’s intra-day rally from 120.30 to 121.48 in Asia on Friday following the release of Bank of Japan unchanged rate decision, subsequent retreat after being capped below Monday’s 7-week peak at 121.51 suggests further choppy trading inside near term established range of 121.51-120.02 would continue.

Above 121.48/51 would bring resumption of upmove from October’s bottom at 118.06 to 121.74 and then 122.10/20, whilst below 120.02 would confirm a top has been made instead and yield correction towards 119.62 next.

88

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]12 Nov 2015[/B] [I]08:31 GMT[/I]

[B]USD/JPY - 123.01[/B]
The greenback’s resumption of recent uptrend to a fresh 10-week peak at 123.61 on Monday on the back of Friday’s release of upbeat U.S. jobs report suggests consolidation with upside bias remains for gain towards 123.79/80, then 124.00/01, however, over bought condition would prevent sharp move beyond there and risk would increase for a much-needed correction later this week.

On the downside, only below 122.69 would indicate a temporary top has been made and turn outlook bearish for a stronger retracement towards 122.38/40.

89

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]13 Nov[/B] [I]2015 09:29 GMT[/I]

[B]USD/JPY - 122.77[/B]
Although yesterday’s intra-day breach of support at 122.74 signals recent uptrend has made a temporary top at Monday’s fresh 10-week peak at 123.61 and stronger retracement to 123.30/40 may be seen, reckon 122.00 (previous resistance, now support) would contain weakness and daily bullishness remains for another rise ‘later’.

Above 123.61 would extend gain to 123.79/80, then 124.00, however, loss of momentum would cap price below 124.63 and yield retreat.

90

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]16 Nov 2015[/B][I] 08:00 GMT[/I]

[B]USD/JPY - 122.65[/B]
Although intra-day breach of Friday’s support at 122.74 to 122.24 signals recent uptrend has made a temporary top at Monday’s fresh 10-week peak at 123.61 and stronger retracement to 122.01 (previous resistance, now support) may be seen, reckon 121.74 would contain weakness and daily bullishness remains for another rise ‘later’.

Above 123.61 would extend gain to 123.79/80, then 124.00, however, loss of momentum would cap price below 124.63 and yield retreat.

91

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]18 Nov 2015[/B] [I]08:10 GMT[/I]

[B]USD/JPY - 123.25[/B]
Although intra-day breach of Friday’s support at 122.74 to 122.21 on Monday signals recent uptrend has made a temporary top at Monday’s fresh 10-week peak at 123.61 and stronger retracement to 122.01 (previous resistance, now support) may be seen, reckon 121.74 would contain weakness and daily bullishness remains for another rise ‘later’.

Above 123.61 would extend gain to 123.79/80, then 124.00, however, loss of momentum would cap price below 124.63 and yield retreat.

92

[B]DAILY MARKET OUTLOOK[/B]
Update Time: 19 Nov 2015 08:27 GMT

[B]USD/JPY - 123.17[/B]
Although intra-day breach of Friday’s support at 122.74 to 122.21 on Monday signals recent uptrend has made a temporary top at Monday’s fresh 10-week peak at 123.61 and stronger retracement to 122.01 (previous resistance, now support) may be seen, reckon 121.74 would contain weakness and daily bullishness remains for another rise ‘later’.

Above 123.61 would extend gain to 123.79/80, then 124.00, however, loss of momentum would cap price below 124.63 and yield retreat.

94

USD/JPY [B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]20 Nov 2015[/B] [I]08:20 GMT[/I]

[B]USD/JPY - 123.01[/B]
Although intra-day breach of Friday’s support at 122.74 to 122.21 on Monday signals recent uptrend has made a temporary top at Monday’s fresh 10-week peak at 123.61 and stronger retracement to 122.01 (previous resistance, now support) may be seen, reckon 121.74 would contain weakness and daily bullishness remains for another rise ‘later’.

Above 123.61 would extend gain to 123.79/80, then 124.00, however, loss of momentum would cap price below 124.63 and yield retreat.

95

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]23 Nov 2015[/B] [I]08:36 GMT[/I]

[B]USD/JPY - 123.11[/B]
Although intra-day breach of Friday’s support at 122.74 to 122.21 on Monday signals recent uptrend has made a temporary top at Monday’s fresh 10-week peak at 123.61 and stronger retracement to 122.01 (previous resistance, now support) may be seen, reckon 121.74 would contain weakness and daily bullishness remains for another rise ‘later’.

Above 123.61 would extend gain to 123.79/80, then 124.00, however, loss of momentum would cap price below 124.63 and yield retreat.

96

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]30 Nov 2015[/B] [I] 08:20 GMT[/I]

[B]USD/JPY - 122.82[/B]
Friday’s intra-day rebound from 122.30 to 122.88 (New York) has retained our previous view that dollar’s early decline from November’s 12-week peak at 123.77 has ended last week at 122.26 and consolidation with upside bias is seen, above 122.94/96 would encourage for subsequent headway towardd 123.26.

On the downside, only break of 122.21/26 sup would risk stronger retracement of recent upmove to 122.01.
However, reckon 121.74 (previous res, now sup) would contain weakness.

97

[B]DAILY MARKET OUTLOOK [/B]
Update Time:[B] 01 Dec 2015[/B] 08:22 GMT
[B]
USD/JPY - 122.87[/B]
Despite yesterday’s cross-inspired break of 122.94 res to 123.34 in New York, intra-day sharp retreat to 122.64 due to broad-based long liquidation is the usd in Asian morning suggests further ‘choppy’ trading below Nov’s 12-week peak at 123.77 would continue with near term downside bias, only below 122.21/26 sup would bring stronger retracement of early upmove to 122.00/01.

On the upside, above 123.34 is needed to revive previous bullish scenario on dollar for subsequent re-test of 123.77.

98

[B]DAILY MARKET OUTLOOK [/B]
Update Time: [B]02 Dec 2015[/B] [I]08:38 GMT[/I]

[B]USD/JPY - 123.11[/B]
Yesterday’s intra-day decline from 123.28 to 122.64 in Asia and then subsequent choppy swings in New York session suggests further volatile trading below Mon’s high at 123.34 would continue.
Below 122.64 would bring stronger retracement to 122.45/50 but previous sup at 122.21/26 is expected to hold and bring another rebound.

A firm break of 123.34 would encourage for re-test of November’s 12-week peak at 123.77.
However, loss of momentum should cap dollar below 124.00/10 and risk has increased for a correction to occur later.

99

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]04 Dec 2015[/B] [I]08:40 GMT[/I]

[B]USD/JPY - 122.71[/B]
Although dollar’s decline from 123.68 (Wednesday) to 122.30 yesterday due to USD’s broad-based weakness caused by EUR/USD’s spectacular rally in New York session suggests further choppy trading below November’s 12-year peak at 123.77 and price would ‘gyrate’ inside early range of 123.68-122.26 range until release of today’s key U.S. payrolls report.

A firm break of previous 122.21/26 sup would bring stronger correction of recent upmove to 121.50/60 whilst above 123.68/77 res would revive previous bullishness for subsequent headway towards 124.10/20.

100

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]07 Dec 2015[/B] [I]08:22 GMT[/I]
[B]
USD/JPY - 123.35[/B]
Despite the greenback’s strong retreat from 123.68 (Wed) to 122.30 last Thursday, subsequent rebound on the release of upbeat U.S. jobs report suggests consolidation with upside bias remains and above 123.68 would yield a re-test of November’s fresh 12-year peak at 123.77, break would extend towards 124.00/10 before prospect of a much-needed correction due to loss of momentum.

On the downside, only below 122.64 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness towards 122.30.

101

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]08 Dec 2015[/B] [I]08:16 GMT[/I]

[B]USD/JPY - 123.05[/B]
Despite the greenback’s strong retreat from 123.68 (Wednesday) to 122.30 last Thursday, subsequent rebound on the release of upbeat U.S. jobs report.
It suggests consolidation with upside bias remains and above 123.68 would yield a re-test of November’s fresh 12-year peak at 123.77, break would extend towards 124.00/10 before prospect of a much-needed correction due to loss of momentum.

On the downside, only below 122.64 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness towards 122.30.

102

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]09 Dec 2015[/B] [I]08:26 GMT[/I]

[B]USD/JPY - 122.83[/B]
Despite the greenback’s strong retreat from 123.68 (Wednesday) to 122.30 last Thursday, subsequent rebound on the release of upbeat U.S. jobs report suggests consolidation with upside bias remains and above 123.68 would yield a re-test of November’s fresh 12-year peak at 123.77, break would extend towards 124.00/10 before prospect of a much-needed correction due to loss of momentum.

On the downside, only below 122.64 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness towards 122.30.

103

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]11 Dec 2015[/B] [I]08:10 GMT[/I]

[B]USD/JPY - 121.82[/B]
The greenback’s selloff below last week’s low at 122.30 to as low as 121.07 on Wednesday on dollar’s broad-based weakness post the release of downbeat U.S. wholesale inventories data signals the decline from November’s 12-week peak at 123.77 has resumed and consolidation with downside bias remains for weakness towards 120.80/90, however, loss of momentum should keep price above 120.57 this week and yield rebound later.

On the upside, only above 122.30 (previous support, now resistance) would indicate aforesaid correction has ended instead and turn outlook bullish for stronger gain to 122.72.