AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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AceTraderFx Nov 16: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 16 Nov 2017 09:30 GMT

USD/JPY - 113.17
The greenback's intra-day sharp retreat n subsequent break of last Thursday's low at 113.09 signals erratic decline from November's fresh 7-1/2 month peak at 114.74 has resumed and choppy trading with downside bias would be seen for weakness towards 112.48/50 but near term loss of momentum would prevent sharp fall beyond there and reckon support at 112.30 would remain intact and yield rebound.

On the upside, only above 113.50 would indicate a temporary low has been made and risk stronger retracement towards 113.91 before prospect of pullback.

Data to be released on Thursday:
France ILO unemployment rate, Italy trade balance, U.K. retail sales, core retail sales, EU CPI, core CPI.
Canada manufacturing sales, and U.S. import prices, export prices, industrial production, capacity utilization, manufacturing output, NAHB housing market index.

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AceTraderFx Nov 17: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 17 Nov 2017 09:30 GMT

USD/JPY - 112.58
The greenback's sharp retreat on Wednesday subsequent break of last Thursday's low at 113.09 to 112.48, then 112.40 today signals erratic decline from November's fresh 7-1/2 month peak at 114.74 has resumed and choppy trading with downside bias would be seen for weakness towards 112.04/05 but near term loss of momentum would prevent sharp fall beyond there and reckon support at 111.65 would remain intact n yield rebound.

On the upside, only above 113.33 would indicate a temporary low has been made and risk stronger retracement towards 113.91 before prospect of pullback.

Data to be released on Friday:
EU current account, construction output, Canada CPI, core CPI, retail sales, retail sales ex-autos, and U.S. building permits, housing starts, KC Fed manufacturing.

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AceTraderFx Nov 22: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 22 Nov 2017 09:00 GMT

USD/JPY - 112.05
The greenback's sharp retreat last week and subsequent break of November's low at 113.09 to 111.89 Monday signals erratic decline from November's fresh 7-1/2 month peak at 114.74 has resumed and choppy trading with downside bias would be seen for weakness towards 111.75/80 but near term loss of momentum would prevent sharp fall beyond there and reckon support at 111.65 would remain intact and yield rebound.

On the upside, only above 113.33 would indicate a temporary low has been made and risk stronger retracement towards 113.91 before prospect of pullback.

Data to be released on Wednesday :

EU consumer confidence, and U.S. MBA mortgag application, durable goods, durables ex-transport, durables ex-defense, initial jobless claims, University of Michigan sentiment and FOMC minutes.

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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

 

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AceTraderFx Nov 23: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 23 Nov 2017 09:30 GMT

USD/JPY - 111.18
The greenback's sharp retreat last week and subsequent break of November's low at 113.09 to 111.89 Monday and yesterday's fall to 111.15 on dovish FOMC minutes signals erratic decline from November's fresh 7-1/2 month peak at 114.74 has resumed and choppy trading with downside bias would be seen for weakness towards 110.88 but near term loss of momentum would prevent sharp fall beyond there and reckon support at 110.50 would remain intact and yield rebound.

On the upside, only above 113.33 would indicate a temporary low has been made and risk stronger retracement towards 113.91 before prospect of pullback.

Data released on Thursday:
Japan market holiday, U.S. market holiday, New Zealand retail sales.
Germany GDP, Markit manufacturing PMI, Markit Services PMI, France business climate, Markit manufacturing PMI, Markit Services PMI, Italy trade balance, EU Markit manufacturing PMI, Markit Services PMI, U.K. GDP, CBI distributive trades, and Canada retail sales.

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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

 

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AceTraderFx Nov 24: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 24 Nov 2017 09:30 GMT

USD/JPY - 111.38
The greenback's sharp retreat last week and subsequent break of November's low at 113.09 to 111.89 Monday and yesterday's fall to 111.07 on dovish FOMC minutes signals erratic decline from November's fresh 7-1/2 month peak at 114.74 has resumed and choppy trading with downside bias would be seen for weakness towards 110.88 but near term loss of momentum would prevent sharp fall beyond there and reckon support at 110.50 would remain intact and yield rebound.

On the upside, only above 113.33 would indicate a temporary low has been made and risk stronger retracement towards 113.91 before prospect of pullback.

Data to be released on Friday :
Swiss industrial orders, Germany Ifo business climate, Ifo current conditions, Ifo expectations, Italy industrial orders, industrial sales, U.K. BBA mortgage approvals, and U.S. Markit manufacturing PMI, Markit services PMI.

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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

 

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AceTraderFx Nov 28: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 28 Nov 2017 09:30 GMT

USD/JPY - 111.29
As the greenback has retreated again after meeting renewed selling at 111.69 in Australia, suggesting recovery from last Thursday's low at 111.07 has ended there and consolidation with downside bias remains for decline from November's 7-1/2 month peak at 114.74 to resume and yield re-test of said support, break would extend towards 110.70 but loss of momentum would keep price above 110.58.

On the upside, only above 112.18 would indicate a temporary low has been made and risk stronger retracement towards 112.50/52 before prospect of retreat.

Data to be released on Tuesday:
Germany GfK consumer sentiment, import price, France consumer confidence.
Canada producer prices, and U.S. building permits, wholesale inventories, redbook, monthly home price, CS home price, consumer confidence, Richmond Fed manufacturing.

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AceTraderFx Nov 29: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 29 Nov 2017 09:00 GMT

USD/JPY - 111.49
Despite the greenback's rebound from Monday's fresh 2-month trough at 110.84 to 111.66 in Asia today, subsequent retreat to 111.39 suggests aforesaid recovery has ended and consolidation with downside bias remains for recent decline from November's peak at 114.74 to resume and yield re-test of aforesaid support, break would extend towards 110.58/60 but loss of momentum would keep price above 110.20/30 and yield correction.

On the upside, only above 111.66 would revive bullishness for a stronger retracement towards 111.89/90, then 112.38 before prospect of another retreat later.

Pay attention to release of a slew of key U.S. eco. data starting with Q3 GDP, prelim. Q3 PCE, pending home sales and last but not least Fed's beige book. Also take note of speech by NY Fed President Dudley, testimony by Fed Chair Yellen before the congressional Joint Senate Committee n speech by S. Francisco Fed President Williams.

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AceTraderFx Dec 06: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 06 Dec 2017 09:30 GMT

USD/JPY - 112.11
Despite the greenback's resumption of decline from November's 7-1/2 month peak at 114.74 to a fresh 2-month trough at 110.84 last Monday, subsequent rebound to 112.88 Friday and then intra-day break of this resistance suggests a temporary low has been made and consolidation with uspide bias remains for a stronger retracement towards 113.20/30 but near term loss of momentum would keep price below 113.44 this week and yield retreat.

On the downside, only below 111.38 would indicate aforesaid recovery has ended instead and turn outlook bearish for a re-test of said support early next week.

U.S. will release mortgage applications, ADP employment data n non-farm productivity.
Pay attention to ADP private payrolls number ahead of Friday's key U.S. jobs data, street forecast is look for an increase of 185K in Nov vs previous reading of 235K, if actual figure comes in lower than estimate, USD will be sold.

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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

 

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AceTraderFx Dec 07: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 07 Dec 2017 09:30 GMT

USD/JPY - 112.58
Despite resumption of decline from this week's 2-week high of 113.09 to retrace recent upmove from November's 110.84 bottom to 112.00 yesterday's intra-day rise above 112.37 on the back of renewed usd's strength and rising U.S. yields suggests temp. low is made and choppy sideways swings are in store.

Only above 112.86 would bring re-test of 113.09 whilst below 112.00 would extend weakness to 111.70/74 later today or tomorrow.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

 

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AceTraderFx Dec 08: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 08 Dec 2017 09:30 GMT

USD/JPY - 113.49
The greenback's rally in New York yesterday and subsequent break of Monday's high at 113.09 signals upmove from last week's 2-month trough at 110.84 has once again resumed and consolidation with upside bias would be seen for stronger retracement of erratic decline from November's 4-month peak at 114.74 towards 113.80/90 but near term loss of momentum would keep price below 114.07/10.

On the downside, only below 112.86 would indicate a temporary top has been made and risk stronger correction to 112.37/40 before prospect of a rebound later.

Data to be released on Friday:
Japan current account, GDP, trade balance, eco watchers outlook, eco watchers current, China exports, imports, trade balance.
Italy market holiday, Germany exports, imports, current account, trade balance, France industrial output, budget balance, U.K. construction output, industrial output, manufacturing output, trade balance, NIESR GDP estimate.
Canada housing starts, capacity utilisation, and U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, University of Michigan sentiment, wholesale inventories and wholesale sales.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates