[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]29 Mar 2017[/B] [I]09:01 GMT[/I]
USD/JPY - 111.07
Despite the greenback’s selloff to a fresh 4-month trough 110.11 on Monday after U.S. President Trump’s failure to push through his healthcare bill in Congress, subsequent strong rebound to 111.32 today suggests medium-term decline has made a temporary low there and choppy trading with upside bias would be seen for retracement towards 111.58.
However, near term loss of momentum would keep price below 111.95.
On the downside, only below 110.63 would indicate aforesaid correction has ended instead and turn outlook bearish for a re-test of 110.11, break would extend towards 109.50/60.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]31 Mar 2017[/B] [I] 0:35 GMT[/I]
USD/JPY - 111.88
Despite the greenback’s selloff to a fresh 4-month trough 110.11 on Monday after U.S. President Trump’s failure to push through his healthcare bill in Congress, subsequent strong rebound to 112.20 today suggests medium-term decline has made a temporary low there and choppy trading with upside bias would be seen for retracement towards 112.50/60.
However, near term loss of momentum would keep price below 112.90.
On the downside, only below 110.63 would indicate aforesaid correction has ended instead and turn outlook bearish for a re-test of 110.11, break would extend towards 109.50/60.
Data to be released later:
UK house prices, GDP, current account, Germany retail sales, unemployment rate, France PPI, CPI, EU CPI, core CPI, Italy CPI, HICP, PPI.
U.S. PCE, personal income, personal spending, Chicago PMI, consumer sentiment and Canada GDP MM - Jan
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]05 Apr 2017[/B] [I]09:43 GMT[/I]
USD/JPY - 110.69
Although dollar’s cross-inspired decline from 112.20 (Friday) to 110.27 yesterday suggests early correction from March’s fresh 4-month low at 110.11 has ended, intra-day cross-inspired rebound to 110.91 suggests consolidation is in store, as long as 1111.00/10 holds, downside bias remains for re-test of 110.11, break needed to extend weakness to 109.80/90.
Only a daily close above 111.13 ‘prolongs’ choppy sideways swings and risks another rise towards 111.59.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]20 Apr 2017[/B] [I]09:01 GMT[/I]
USD/JPY - 109.03
Despite the greenback’s resumption of recent losing streak to a fresh 5-month trough at 108.13 on Monday, subsequent rally to 109.22 yesterday suggests recent erratic downtrend has made a minor low there and choppy trading with upside bias would be seen for retracement towards 109.39, then to 109.85/86.
However, as broad-outlook remains consolidative, reckon 110.14 (previous support, now resistance) would remain intact and yield retreat.
On the downside, only below 108.13 would revive bearishness for one more fall to 108.30 but as this move is losing downward momentum, reckon 108.13 would hold and bring a much-needed correction later this week.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]25 Apr 2017[/B] [I]09:11 GMT[/I]
USD/JPY - 110.40
Despite yesterday’s gap-up open to 110.61 in New Zealand due to active buying in euro/yen cross on news of a victory by France’s centrist candidate Macron in the first round of election, subsequent retreat suggests the correction from April’s 5-month trough at 108.13 has possibly ended there and choppy trading with downside bias would be seen for a stronger retracement to 109.46/50, however, support at 108.89 should remain intact and yield rebound.
On the upside, only above 110.61 would revive bullishness for one more ris towards 111.00/02 before prospect of another fall due to near term loss of momentum.
[B]Data to be released today: [/B]
France business climate, UK PSNB, PSNCR, U.S. redbook, home price, new home sales and Richmond Fed manufacturing survey.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]02 May 2017[/B] [I]09:11 GMT[/I]
USD/JPY - 112.12
The greenback’s rise to 111.92 yesterday and intra-day break of aforesaid resistance signals upmove from April’s 5-month trough at 108.13 remains in progress and consolidation with upside bias remains for gain towards 112.40/50.
However, resistance at 112.73 should remain intact ahead of the Federal Reserve’s rate decision on Wednesday and yield correction.
On the downside, only below 111.20 would indicate a temporary top has been made and risk stronger retracement to 110.80/90 but 110.61 (previous resistance, now support) would remain intact and yield rebound.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]10 May 2017[/B] [I] 09:20 GMT[/I]
USD/JPY - 113.90
The greenback’s rise above Monday’s fresh 7-week peak at 113.10 to 114.32 yesterday on active cross-selling of yen signals erratic upmove from April’s 5-month trough at 108.13 remains in progress and marginal gain from here would be seen after consolidation.
However, loss of momentum would prevent strong move beyond there and reckon 114.60/70 would limit upside and bring a much-needed correction later this week.
On the downside, only a daily close below 112.40 would indicate a temporary top has been made and yield stronger retracement of aforesaid rise to 112.09/10, then 111.70/80 before prospect of a recovery.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]17 May 2017[/B] [I]09:26 GMT[/I]
USD/JPY - 112.50
The greenback’s selloff yesterday and subsequent break of Monday’s low at 113.13 signals decline from last Wednesday’s 8-week peak at 114.37 remains in progress and consolidation with downside bias remains for weakness towards 112.09/10.
However, near term loss of momentum would prevent sharp move beyond there and risk would increase of a much-needed rebound later.
On the upside, only above 113.13 would indicate the first leg of correction has ended and turn outlook bullish for gain to 113.40/50 but resistance at 113.85 should remain intact, bring retreat.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]24 May 2017[/B] [I]09:38 GMT[/I]
USD/JPY - 111.82
The greenback’s recent swings after last Thursday’s rebound from 110.24 to 111.73 are likely to continue and intra-day rebound from 110.86 has retained bullishness but above 111.73 is needed to yield stronger retracement of decline from May’s peak at 114.37 towards 112.24/30, however, resistance at 112.94 should remain intact this week and yield retreat.
On the downside, only below 110.53 would confirm the recovery from 110.24 has ended instead and turn outlook bearish for weakness to 110.24, break, 110.00 later.
[B]Data to be released on Wednesday: [/B]
Germany consumer sentiment, Swiss industrial production, Italy trade balance, U.S. monthly home price, existing home sales and Canada BoC rate decision and Fed minutes.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]25 May 2017 [/B][I]09:05 GMT[/I]
USD/JPY - 111.78
The greenback’s recent swings after last Thursday’s rebound from 110.24 to 112.13 are likely to continue and intra-day rebound from 111.46 has retained bullishness but above 112.13 is needed to yield stronger retracement of decline from May’s peak at 114.37 towards 112.24/30.
However, resistance at 112.94 should remain intact this week and yield retreat.
On the downside, only below 110.53 would confirm the recovery from 110.24 has ended instead and turn outlook bearish for weakness to 110.24, break, 110.00 later.
[B]Data to be released on Thursday: [/B]
Italy industrial sales, industrial orders, UK mortgage approvals, GDP, U.S. jobless claims, trade balance and wholesale inventories.
AceTraderFx Jun 01: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 01 Jun 2017 09:15 GMT
USD/JPY - 111.06
Despite intra-day selloff to 110.49 in New York yesterday, subsequent rebound suggests further choppy trading above May’s trough at 110.24 would continue with upside bias and gain towards resistance at 111.47 is likely.
However, as broad-outlook remains consolidative, reckon 112.13 (reaction high) would remain intact this week and yield retreat.
On the downside, only below 110.49 would revive bearishness for weakness towards 110.24, daily close below there would signal recent decline has resumed and extend to 110.00.
AceTraderFx Jun 05: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 05 Jun 2017 09:07 GMT
USD/JPY - 110.48
Despite intra-day selloff to 110.33 in New York on Friday after poor U.S. jobs report, subsequent rebound suggests further choppy trading above May’s trough at 110.24 would continue with upside bias and gain towards resistance at 11188 is likely, however, as broad-outlook remains consolidative, reckon 111.48 would remain intact this week and yield retreat.
On the downside, only below 110.33 would revive bearishness for weakness towards 110.24, daily close below there would signal recent decline has resumed and extend to 110.00.
Data to be released today:
Italy services PMI, France services PMI, Germany services PMI, EU services PMI, sentix index, UK services PMI.
U.S. labour costs, productivity, services PMI, factory orders and ISM non-manufacturing PMI on Monday.
AceTraderFx Jun 08: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 08 Jun 2017 09:41 GMT
USD/JPY - 109.89
Despite yesterday’s selloff to a fresh 6-week trough at 109.12, subsequent strong rebound to 110.01 at Asian open today suggests the erratic decline from May’s peak at 114.37 has made a temporary bottom there and choppy trading with upside bias would be seen for gain towards 110.24 (previous support, now resistance), however, near term loss of momentum would keep price below 110.40/50 and yield retreat.
On the downside, only below 109.12 would revive bearishness for further weakness towards 108.89/90 but over sold condition would prevent steep fall beyond there and risk would increase for a correction later.
AceTraderFx Jun 14: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
14 Jun 2017 06:15GMT
DAILY USD/JPY OUTLOOK - 110.07
Although dlr’s cross-inspired decline from 110.81 (Friday) to 109.63 yesterday signals 1st leg of correction from last Wed’s 6-week trough at 109.12 has ended, subsequent bounce to 110.27 on Tuesday would head to 110.44/48 but above needed to extend towards 110.81.
Buy again for 110.75 and only below 109.63 risks weakness to 109.38, break yields re-test of 109.12.
U.S. will release a slew of key eco. data ahead of Fed rate decision starting with MBA mortgage applications, CPI, retail sales, real weekly earnings.
The Fed rate decision is at 18:00GMT followed by Fed Chair Yellen’s press conference at 18:30GMT.
AceTraderFx Jun 13: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update: 16 Jun 2017 09:27GMT
DAILY USD/JPY OUTLOOK - 111.14
Dlr’s impressive rally in post-FOMC 7-week low at 108.83 to as high as 111.27 today confirms decline from May’s 114.37 has made a low there and upside bias remains for gain to 111.60 (50% r).
However, reckon 112.13 should hold and yield retreat later.
Raise long entry for this move and only below 110.34 risk stronger retrace to 109.87 before another rise
Pay attention to a slew of U.S. eco. data later in the day starting with building permits, housing starts and University of Michigan consumer confidence, if actual readings of the latter 2 data come out better than street forecast, then the greenback will head higher in New York morning.
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AceTraderFx Jun 26: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 26 Jun 2017 09:20 GMT
USD/JPY - 111.63
The greenback’s strong rebound from last Thursday’s low at 110.95 suggests the pullback from last Tuesday’s high at 111.79 has ended there and consolidation with upside bias would be seen for upmove from June’s 7-week trough at 108.83 to resume and yield re-test of said resistance.
Break would extend towards 112.10/13 before prospect of a correction due to loss of momentum.
On the downside, only below 110.95 would abort daily bullishness and risk stronger retracement of aforesaid upmove towards 110.66, then 110.34/35.
AceTraderFx Jun 28: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 28 Jun 2017 09:33 GMT
USD/JPY - 111.95
The greenback’s strong rebound from last Thursday’s low at 110.95 suggests the pullback from last Tuesday’s high at 111.79 has ended there and consolidation with upside bias would be seen for upmove from June’s 7-week trough at 108.83 to resume and yield re-test of said resistance, break would extend towards 112.10/13 before prospect of a correction due to loss of momentum.
On the downside, only below 110.95 would abort daily bullishness and risk stronger retracement of aforesaid upmove towards 110.66, then 110.34/35.
AceTraderFx Jun 30: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 30 Jun 2017 09:36 GMT
USD/JPY - 112.00
The greenback’s intra-day break of Tuesday’s high at 112.47 suggests erratic upmove from June’s trough at 108.82 has once again resumed and consolidation with upside bias remains for gain towards 113.00, then 113.13 (previous support), however, near term loss of momentum would prevent strong gain beyond there and risk would increase for a much-needed correction early next week.
On the downside, only below 111.79 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.37/40.
Data to be released on Friday:
Germany retail sales, France consumer spending, CPI, UK consumer confidence, GDP, current account, EU CPI, core CPI.
Canada GDP, PPI, U.S. PCE, personal spending, Chicago PMI and consumer sentiment.
AceTraderFx July 07: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 07 Jul 2017 09:26 GMT
USD/JPY - 113.74
The greenback’s intra-day break of Wednesday’s high at 113.69 suggests erratic upmove from June’s trough at 108.82 has once again resumed and consolidation with upside bias remains ahead of today’s non-farm payrolls release for gain towards 113.85/90, then 114.10/20, however, near term loss of momentum would prevent strong gain beyond there and risk would increase for a much-needed correction early next week.
On the downside, only below 111.79 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.37/40.
Data to be released on Friday:
Australia construction index, Japan leading indicator, Swiss unemployment rate, Germany industrial output, France budget balance, trade balance, imports, exports, Italy retail sales, UK construction output, industrial output, manufacturing output, goods trade balance, Canada employment change, unemployment rate, Ivey PMI, U.S. non-farm payrolls, private payrolls, average earnings and unemployment rate.
AceTraderFx July 12: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 12 Jul 2017 09:37 GMT
USD/JPY - 113.42
The greenback’s intra-day break of Friday’s high at 114.18 suggests erratic upmove from June’s trough at 108.82 has once again resumed and consolidation with upside bias remains for a re-test of May’s peak at 114.37, break there would retain bullishness for 114.50/60, however, loss of momentum would prevent sharp move beyond there and risk would increase for a much-needed correction later this week.
On the downside, only below 111.79 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.37/40.
