AceTraderfx Aug 30 : DAILY MARKET OUTLOOK USD/JPY - 98.33

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AceTraderFx Apr2: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY

Update Time: 02 Apr 2015 08:09 GMT

USD/JPY - 119.50

Dollar's sell off to 119.45 yesterday after being capped below Tuesday's high of 120.37 suggests upmove from last Thursday's 5-week trough at 118.33 has made a temporary top there earlier and consolidation with downside bias remains for a retracement to 119.11 (61.8% r of 118.33-120.37).
However, sup at 118.93 would hold today and yield rebound later.

On the upside, only a move back above 120.37 would extend aforesaid corrective rise to 120.62 (61.8% r of 122.03-118.33) and then 121.00 but res at 121.20 should cap upside.

 

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AceTraderFx Apr 8: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 08 Apr 2015 07:54 GMT

USD/JPY - 119.88

Although dollar's intra-day weakness after release of BoJ unchanged monetary policy suggests consolidation with downside bias would be seen, a daily close below 119.68 (Monday's high) is needed to signal erratic up move from March's 5-week trough at 118.33 has made a top at 120.45 Tuesday and yield weakness to 118.72.

On the upside, above 120.45 would bring stronger retracement of erratic decline from March's near 8-year peak at 122.03 to 120.62 (61.8% r) and then 120.90/00 but pivotal resistance at 121.20 should hold.

 

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 16 Apr 2015 08:15 GMT

Despite dollar's resumption of decline from Monday's 3-week high of 120.84 to as low as 118.79 yesterday, subsequent rebound to 119.23 and then 119.47 signals a temporary low has been made and retracement to 119.75 may be seen.
However, reckon 120.12 resistance would remain intact and yield another fall later.

Below 118.72/79 would bring re-test of March's bottom at 118.33, breach would confirm corrective decline from March's near 8-year peak at 122.03 has finally resumed and extend weakness towards 117.90/00.

 

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

DAILY MARKET OUTLOOK USD/JPY
Update Time: 23 Apr 2015 08:06 GMT

Despite dollar's rebound from Monday's 3-week low at 118.53 to 120.09 in Asia today, as sell off from last week's high of 120.84 signals correction from March's bottom at 118.33 has ended there, reckon 120.43 resistance would cap upside and downside bias remains for another decline later.

Below 119.31/35 would indicate top is made and yield weakness to 119.15 and then 118.70/80.

 

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AceTraderFx May 7: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 07 May 2015 08:00 GMT

USD/JPY - 119.40
Although dollar's sell off from Tuesday's high of 120.51 to as low as 119.21 yesterday signals near term rise from last Thursday's 4-week trough at 118.50 has ended there and choppy trading with downside bias would be seen
Only below the said support would encourage for a re-test of daily support at 118.33.

On the upside, only above 120.51 would indicate price remains confined inside early 7-week broad range of 122.03-118.33 and bring stronger gain towards 120.84 and then 121.20.

 

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

DAILY MARKET OUTLOOK
Update Time: 22 May 2015 08:34 GMT

USD/JPY - 120.80
Although dollar's rally above daily resistance at 120.84 to 121.49 Wednesday signals an 'upside break' of early 10-week long broad range of 122.03-118.33 has taken place, subsequent retreat to as low as 120.64 today suggests choppy consolidation would be seen.
However, reckon 120.27 (previous resistance, now sup) would hold and bring another up move later.

Above 121.49 would extend gain to 121.67 and then towards 2015 peak at 122.03 (March).
Only a failure to penetrate 122.03 and a daily close below 120.27 would indicate price would remain confined inside aforesaid broad range and yield weakness towards 119.83/93 and then 119.40/50.

 

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

DAILY MARKET OUTLOOK
Update Time: 26 May 2015 09:34 GMT

USD/JPY - 122.75
Dollar's intra-day rally above 2015's 8-year peak at 122.03 signals long-term uptrend has once again resumed and consolidation with upside bias remains for further gain towards 123.00/10, then 123.25/27.
However, loss of momentum would prevent steep rise beyond there and reckon resistance at 123.55 would remain intact today and yield a much-needed correction later.

On the downside, only below 122.03 would indicate a temporary top has been made and yield stronger retracement towards 121.78/80 before prospect of a rebound.

 

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AceTraderFx May 27: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 27 May 2015 08:08 GMT

USD/JPY - 123.01
Dollar's rally to a fresh near 8-year peak at 123.33 on Tuesday signals long-term uptrend from 2011 record low at 75.32 has resumed and further gain to 124.14 (2007 top) is envisaged after consolidation
However, loss of momentum should prevent sharp move beyond there and yield retreat later.

On the downside, only a daily close below 122.03 (previous 2015 peak in March, now support) would indicate a temporary top is made instead and shift risk to downside for a retracement to 121.45 (Monday's low).

 

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AceTraderFx Jun 2: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 02 Jun 2015 08:07 GMT

USD/JPY - 124.58
Dollar's intra-day retreat after a brief rise above Monday's fresh 12-1/2 year high at 124.92 to 125.07 suggests choppy trading would be seen but as long as support at 123.86 holds, bullishness remains for long-term uptrend from 2011 record low at 75.32 to resume after consolidation and above 125.07 would extend gain to 125.74 (Dec 2002 top) later this week.

On the downside, only a daily close below 123.33 (previous resistance, now support) would confirm a temporary top is made and shift risk to downside for a minor correction towards 122.78

 

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AceTraderFx Jun 3: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 03 Jun 2015 08:07 GMT

USD/JPY - 124.12
Dollar's stronger retreat from a fresh 12-1/2 year peak at 125.07 to 123.75 on Tuesday signals long-term uptrend has made a temporary top there and a few days of choppy trading with mild downside bias would be seen.
Below 123.75 would bring stronger retracement to 123.50/61 support area and then 123.33 (previous resistance) but reckon support at 122.78 would remain intact.

Above 125.07 would revive bullishness and extend uptrend from 2011 record low at 75.32 towards 125.74 (2002 Dec top).