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

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

DAILY MARKET OUTLOOK
Update Time: 29 Dec 2015 08:26 GMT

USD/JPY - 120.36
Despite yesterday's cross-inspired rebound to 120.63 in Europe, subsequent weakness to 120.20 in New York suggests dollar's correction from last Fri's 7-week trough at 120.05 has ended there and expect minor consolidation before recent erratic fall from November's 12-week peak at 123.77 resumes to 119.91/96, loss of momentum should keep price well above daily sup at 119.62 and bring correction.
On the upside, a daily close above 120.63 would signal temporary bottom is in place and may risk stronger retracement towards 121.14 before prospect of decline.

 

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

DAILY MARKET OUTLOOK
Update Time: 30 Dec 2015 08:46 GMT

USD/JPY - 120.45
Despite dollar's retreat from 120.63 to 120.20 on Monday, subsequent erratic rise to 120.58 today in in Europe today suggests further sideways swings above last Friday's 7-week bottom at 120.05 would continue, as long as 120.72 (previous sup, now res) holds, outlook remains mildly bearish for recent decline to resume to 119.91/96, loss of momentum should keep price above daily sup at 119.62.
A daily close above 119.72 would confirm temporary low has been made and may risk stronger retracement to 121.10/14.

 

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AceTraderFx Feb 1: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 01 Feb 2016 08:15 GMT

USD/JPY - 121.11
The greenback's over 2% jump to a fresh 1-month peak at 121.42 after Bank of Japan announced negative interest rates on Friday suggests recent erratic upmove remains in progress and consolidation with upside bias would be seen for gain towards 121.70/80, however, over bought condition would prevent steep gain above there and risk would increase for a much-needed correction early next week.

On the downside, only below support at 119.60 would confirm a temporary top has been made and risk stronger retracement towards 119.10/20.

 

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AceTraderFx Feb 2: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-Day Market Moving News and Views
02 Feb 2016 02:02GMT

USD/JPY - ...... Although the greenback dropped to session low at 120.67 in NY, weighed down by release of poor U.S. ISM manufacturing PMI, price rebounded to 121.17 in New York afternoon.
However, renewed selling there pressured the pair lower and dlr retreated to 120.82 ahead of Tokyo open and continues to remain under pressure in Tokyo morning as Nikkei-225 trades lower in early trade.

Since there is no major eco. data due today, traders are likely to continue trading based on their reaction to BoJ's surprise negative rate announcement.

Bids are now lowered to 120.70/80 and more below at 120.50/60 with stops building up below there whilst initial offers are noted at 121.40/50, suggesting buying on dips for a resumption of recent uptrend is still favored.

Data to be released on Tuesday:

Australia interest rate decision, Swiss retail sales, Germany unemployment rate, unemployment change, Italy unemployment rate, Euro zone unemployment rate, producer price index, U.S. Redbook and ISM New York index.

 

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

DAILY MARKET OUTLOOK
Update Time: 04 Feb 2016 08:35 GMT

USD/JPY - 117.76
The greenback's sharp selloff to as low as 117.06 yesterday on dollar-negative comments from New York Fed President William Dudley confirms recent upmove has formed a temporary top at last Friday's 1-month peak at 121.70 and consolidation with downside bias would be seen for weakness towards 116.69/70.,
However, over sold condition would prevent steep fall below there and reckon price would hold well above support at 115.97.

On the upside, only above 119.01 would indicate aforesaid correction has ended and turn outlook bullish for stronger gain to 119.40/50.

 

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

DAILY MARKET OUTLOOK
Update Time: 15 Feb 2016 09:07 GMT

USD/JPY - 113.82
Although intra-day broad-based rally in Asian stocks (except China) has pushed dollar above Fri's 113.53 high (New York) to 114.10, confirming recent downtrend has indeed formed a temporary low at last Thursday's 15-month trough at 110.99, near term overbought condition would prevent strong gain above 114.21/26 and yield subsequent retreat.

Below 113.17/27 (previous res area, now sup) signals 1st leg of correction is over and brings stronger retracement to 111.59/64 later today or tomorrow.

 

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

DAILY MARKET OUTLOOK
Update Time: 23 Feb 2016 09:04 GMT

USD/JPY - 111.99
Dollar's selloff to 112.31 last Friday, then intra-day fall below this level strongly suggests the first leg of correction from February's 15-month trough at 110.99 has ended at 114.88 last Tuesday and consolidation with downside bias would be seen for weakness towards 111.70/80.
However, near term loss of momentum would keep price above support at 111.57/60.

On the upside, only above 113.05 would indicate aforesaid pullback is over instead and turn outlook bullish for stronger gain towards 113.39, then 113.62.

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

DAILY MARKET OUTLOOK
Update Time: 24 Feb 2016 08:26 GMT

USD/JPY - 112.07
Dollar's selloff to 111.77 yesterday, then intra-day fall below this level strongly suggests the first leg of correction from February's 15-month trough at 110.99 has ended at 114.88 last Tuesday and consolidation with downside bias would be seen for weakness towards 111.30/40, however, near term loss of momentum would keep price above support at 111.10/15.

On the upside, only above 113.05 would indicate aforesaid pullback is over instead and turn outlook bullish for stronger gain towards 113.39, then 113.62.

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

DAILY MARKET OUTLOOK
Update Time: 25 Feb 201609:37 GMT

USD/JPY - 112.17
Despite the greenback's selloff to a fresh 2-week trough at 111.04, subsequent strong rebound suggests further choppy trading above February's low at 110.99 would continue with upside bias and gain towards 112.63 is likely to be seen. However, as broad outlook remains consolidative, reckon resistance at 113.05 should remain intact and bring another fall later today or early tomorrow.

On the downside, only below 111.04 would revive bearishness for a re-test of 110.99, break would confirm recent downtrend has resumed and yield further weakness towards 110.40/50.

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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 Mar 1: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 01 Mar 201609:19 GMT

USD/JPY - 113.11
Despite the greenback's selloff to a fresh 2-week trough at 111.04, subsequent strong rebound suggests further choppy trading above February's low at 110.99 would continue with upside bias and gain towards 114.30/40 is likely to be seen, however, as broad outlook remains consolidative, reckon resistance at 114.88 should remain intact and bring another fall later today or early tomorrow.

On the downside, only below 111.04 would revive bearishness for a re-test of 110.99, break would confirm recent downtrend has resumed and yield further weakness towards 110.40/50.

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