AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 07 Jun 2018 9:30 GMT

USD/JPY - 109.88
The greenback's break of Tuesday's high at 110.00 to 110.26 yesterday strongly suggests early correction from May's peak at 111.40 has ended at 108.12 last Tuesday and choppy trading with upside bias would be seen, above 110.32 would add credence to this view and extend towards 110.80/90.
However, near term loss of momentum would keep price below 111.40 this week and yield retreat.

On the downside, only below 109.37 would indicate said recovery has ended instead and turn outlook bearish for weakness towards 109.08.

U.S. eco. calendar is very light today with the usual weekly jobless claims being the only data due out.

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

 

[acetraderfx]

AceTraderFx Jun 11: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 11 Jun 2018 9:30 GMT

USD/JPY - 109.96
Despite the greenback's rise to as high as 110.26 last Wednesday, subsequent selloff to 109.20 Friday suggests recovery from May's 5-week trough at 108.12 has ended there and consolidation with downside bias remains for weakness towards 109.08, below would confirm this view and extend towards 108.70/72.
However, near term loss of momentum would keep price above 108.50/55.

On the upside, only above 110.26 would revive bullishness for stronger retracement of decline from May's peak at 111.40 towards 110.50/52.

Data to release later :
Italy industrial output, and U.K. construction output, industrial output, manufacturing output, trade balance on Monday.

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

 

[acetraderfx]

AceTraderFx Jun 15: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 15 Jun 2018 9:30 GMT

USD/JPY - 110.54
Although the greenback has retreated after intra-day brief break of yesterday's 3-week peak at 110.85 to 110.90 and minor consolidation would be seen initially, as said move signals recent erratic upmove from 108.12 has resumed, upside bias is retained and above said 110.90 would extend gain to 111.07/10. However, loss of momentum would keep price below daily resistance at 111.40 and yield correction.

On the downside, only below 109.92 would indicate a temporary top has been made and risk stronger retracement towards 109.48/50 before prospect of recovery.

U.S. will later release New York Fed mfg index, industrial prod., capacity utilization, mfg output and University of Michigan consumer confidence. Dallas Fed President Kapan will be speaking at 17:30GMT.

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

 

[acetraderfx]

AceTraderFx Jun 19: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 19 Jun 2018 9:20 GMT

USD/JPY - 109.71
The greenback's intra-day selloff in Asia to 109.55 at European open on safe-haven buying of yen after Trump announced additional tariffs on China suggests recent erratic rise from 108.12 has made a temporary top at Monday's 3-week peak at 110.90 and consolidation with downside bias would be seen for weakness towards 109.10/20.
However, over sold condition would keep price above 108.70/72.

On the upside, only above 110.30 would indicate aforesaid pullback has ended instead and turn outlook bullish for gain towards 110.61, above would confirm this view and yield re-test of 110.90.

Data to be released on Tuesday :
EU current account, construction output and U.S. building permit, housing starts, redbook

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

 

[acetraderfx]

AceTraderFx Jun 20: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 20 Jun 2018 9:30 GMT

USD/JPY - 110.13
The greenback's selloff yesterday to 109.55 on safe-haven buying of yen after Trump threatened to announce additional tariffs on China suggests recent erratic rise from 108.12 has made a temporary top at Monday's 3-week peak at 110.90 and consolidation with downside bias would be seen for weakness towards 109.10/20, however, over sold condition would keep price above 108.70/72.

On the upside, only above 110.30 would indicate aforesaid pullback has ended instead and turn outlook bullish for gain towards 110.61, above would confirm this view and yield re-test of 110.90.

Data to be released later :
Germany producer prices, UK CBI industry trends survey, and U.S. MBA mortgage application, current account, existing home 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

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 22 Jun 2018 10:30 GMT

USD/JPY - 110.12
Despite rising to 110.76 in Asia yesterday, subsequent selloff to 109.85 in New York on falling U.S. Treasury yields suggests choppy trading below last week's high at 110.90 would continue with downside bias for weakness to 109.55, break would extend decline to 109.20.

On the upside, only above 110.75 would indicate pullback has ended instead and risks re-test of 110.90.

Today is PMI day where the U.S. will release Markit mfg & services PMI at 13:45GMT.

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

 

[acetraderfx]

AceTraderFx Jun 25: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 25 Jun 2018 9:30 GMT

USD/JPY - 109.46
Dollar's intra-day selloff below last week's 109.55 low in Asian morning due to active safe-haven yen buying following media report that U.S. is planning to limit on Chinese investment in U.S. technology firms signals decline from June's 110.90 peak has resumed and would head to 109.20 target, then 108.90/00.

On the upside, only above 110.03 (New Zealand high) confirms temporary low is made and may risk stronger retracement to 109.20/30.

U.S. will release a slew of second-tier data starting with building permits, Chicago Fed national activity index, new home sales and Dallas Fed mfg business index. BoJ member Sakurai will speak at an international forum in Italy at 12:15GMT.

 

[acetraderfx]

AceTraderFx Jun 26: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 26 Jun 2018 9:30 GMT

USD/JPY - 109.70
Despite the greenback's retreat in Asia and subsequent 1-tick break of Monday's low at 109.38, intra-day rebound suggests pullback from June's high at 110.90 has possibly ended there and choppy trading with upside bias would be seen, however, above 110.22 is needed to confirm this view and yield stronger gain towards 110.76 later this week.

On the downside, only below 109.37 would revive bearishness for stronger retracement of rise from May's trough at 108.12 towards 108.72 later.

Data to be released on Tuesday :
U.K. BBA mortgage approvals, CBI distributive, and U.S. redbook, CS home price, consumer confidence, Richmond Fed manufacturing index

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

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 28 Jun 2018 9:30 GMT

USD/JPY - 110.41
Despite the greenback's 1-tick break of Monday's low at 109.38 on Tuesday, subsequent rebound suggests pullback from June's high at 110.90 has possibly ended there and choppy trading with upside bias would be seen.
However, above 110.22 is needed to confirm this view and yield stronger gain towards 110.76 later this week.

On the downside, only below 109.37 would revive bearishness for stronger retracement of rise from May's trough at 108.12 towards 108.72 later.

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

 

[acetraderfx]

AceTraderFx Jul 03: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 03 Jul 2018 9:30 GMT

USD/JPY - 110.94
Although price has retreated after intra-day break of yesterday's high at 111.06 to 111.16 in Asia and minor consolidation would be seen, as said move signals erratic upmove from May's trough at 108.12 has resumed, upside bias is retained and above said resistance would extend marginally.
However, May's peak at 111.40 should hold on first testing and yield retreat later.

On the downside, only below 109.55 would indicate a temporary top has been made, risk stronger retracement towards 109.37/40 before prospect of rebound.
On the eco. data front, U.S. will later release Redbook retails sales, ISM New York index, May durable goods revision n factory orders.

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