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

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AceTraderFx Jun 4: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 04 Jun 2015 08:51 GMT

USD/JPY - 123.95
Dollar's retreat after yesterday's intra-day rebound from 123.80 to 124.68 suggests further choppy trading below Tuesday's fresh 12-1/2 year peak at 125.07 would be seen.
However, as long as 123.75 (reaction low from 125.07) holds, mild upside bias remains for long-term uptrend from 2011 record low at 75.32 to resume and yield marginal gain later.

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 further weakness to 122.78.

 

[acetraderfx]

AceTraderFx Jun 5: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 05 Jun 2015 08:00 GMT

USD/JPY - 124.70
Although dollar's rebound from yesterday's low at 123.79 suggests further choppy trading inside this week's broad range of 125.07-123.75 would continue and with mild upside bias, break of said 12-1/2 year peak at 125.07 needed to confirm long-term uptrend has resumed and bring further gain to next upside target at 125.74 (2002 Dec top).

On the downside, only below 123.61 would confirm a temporary top is made and shift risk to downside for weakness to 123.33 and then 122.78 next week.

 

[acetraderfx]

AceTraderFx Jun 18: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 18 Jun 2015 08:05 GMT

USD/JPY - 122.83
Dollar's intra-day sell off below 123.10 (post FOMC-low) signals correction from last Wednesday's 2-week trough at 122.47 has ended yesterday at 124.46 and consolidation with downside bias remains, break would signal erratic decline from June's near 13-year peak at 125.86 has resumed and extend weakness towards 122.05 (March's top) later.

Above 123.60 would prolong choppy trading but resistance at 124.46 should remain intact.

 

[acetraderfx]

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

DAILY MARKET OUTLOOK
Update Time: 23 Jun 2015 08:15 GMT

USD/JPY - 123.68
Dollar's rally from Monday's low at 122.56 (Asia) to as high as 123.78 today suggests further choppy trading inside recent established broad range of 122.47-124.46 would continue and with mild upside bias.
However, only a break of said resistance would bring stronger retracement of decline from June's near 13-year peak at 125.86 to 124.62 and possibly towards 125.00 (previous support, now resistance) before retreat occurs.

On the downside, below 122.47 needed to signal stronger retracement of recent uptrend is underway and yield weakness to 122.03 and then 121.20/30.

 

[acetraderfx]

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

DAILY MARKET OUTLOOK
Update Time: 24 Jun 2015 08:15 GMT

USD/JPY - 123.92
Dollar's rally from Monday's low at 122.56 (Asia) to as high as 124.19 on Tuesday suggests further choppy trading inside recent established broad range of 122.47-124.46 would continue and with mild upside bias, however, only a break of said resistance would bring stronger retracement of decline from June's near 13-year peak at 125.86 to 124.62 and possibly towards 125.00 (previous support, now resistance) before retreat occurs.

On the downside, below 122.47 needed to signal stronger retracement of recent uptrend is underway and yield weakness to 122.03 and then 121.20/30.

 

[acetraderfx]

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

DAILY MARKET OUTLOOK
Update Time: 08 Jul 2015 08:17GMT

USD/JPY - 121.72
Dollar's intra-day breach of Monday's 1-month trough at 121.70 to 121.41 in European morning signals erratic decline from June's near 13-year peak at 125.86 to retrace long-term uptrend has resumed and further weakness towards 121.00/10 is envisaged after consolidation.
However, loss of momentum should prevent sharp move below there today and reckon support at 120.64 would hold and bring rebound later.

On the upside, only a daily close above 122.93 would confirm a low has been made and bring subsequent gain towards last week's peak at 123.75.

 

[acetraderfx]

AceTraderFx Jul 10: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 10 Jul 2015 08:05 GMT

USD/JPY - 122.16
Despite dollar's sell-off to a fresh 7-week trough at 120.42 (Wednesday) earlier this week, subsequent rebound and then yesterday's breach of 121.70 (Tuesday low, then resistance) signals decline from June's near 13-year peak at 125.86 has made a temporary low there and stronger retracement towards 122.88/93 is likely.
However, reckon 123.75/78 (July 2 high and 61.8% r of 125.86-120.42) would cap upside and bring another sell-off later.

On the downside, only a daily close below 121.20 would indicate correction over and yield re-test of 120.42, break would extend aforesaid fall to retrace long-term uptrend to 120.00 and then 119.60/70.

 

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

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

DAILY MARKET OUTLOOK
Update Time: 17 Jul 2015 08:09 GMT

USD/JPY - 123.97
Dollar's intra-day rise above yesterday's high of 124.18 to 124.23 in Asia suggests upside bias remains for up-move from last Wednesday's fresh 7-week trough at 120.47 to 123.73 to retrace decline from June's near 13-year peak at 125.86 to extend to 124.38/46 resistance area.
However, reckon price would falter well below 125.00 (previous support, now resistance) and bring retreat later.

On the downside, only below 122.25/26 would indicate a top is made and yield weakness to 122.88/92 but support at 122.05 should contain weakness.

 

[acetraderfx]

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

DAILY MARKET OUTLOOK
Update Time: 22 Jul 2015 08:15 GMT

USD/JPY - 123.75
Despite dollar's retreat after rising to a fresh 5-week high of 124.48 yesterday, as early rally from July's bottom at 120.42 signals correction from June's near 13-year peak at 125.86 has ended there, choppy trading with upside bias mild remains but loss of momentum should cap price below 125.00/07.

On the downside, only a daily close below 122.88/92 would shift risk to downside for weakness towards 122.05.

 

[acetraderfx]

AceTraderFx Jul 30: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 30 Jul 2015 08:24 GMT

USD/JPY - 124.17
Although dollar's stronger rebound from Monday's low at 123.01 and then intra-day break of resistance at 124.19 confirms correction from last week's 5-week top at 124.48 has ended there and choppy trading with upside bias remains, above said temporary high would yield resumption of early up-move from 120.42 (July) to towards 125.00/07 which is likely to hold today due to near term overbought condition.

On the downside, below 123.80 (previous resistance, now support) would prolong choppy trading but support at 123.01 should remain intact.