AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

[acetraderfx]

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

DAILY MARKET OUTLOOK
Update Time: 06 Mar 2017 09:40 GMT

USD/JPY - 113.68
The greenback's strong rebound from last Tuesday's trough at 111.69 suggests the correction from February's high at 114.96 has ended there and consolidation with upside bias remains for gain towards then 114.50 later this week.
However, as broad-outlook remains consolidative, reckon aforesaid upper level would remain intact on first testing and yield retreat.

On the downside, only below 112.62 would revive bearishness for a stronger retracement of early rise from February's trough at 111.60 towards 112.06/08.

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

DAILY MARKET OUTLOOK
Update Time: 07 Mar 2017 09:20 GMT

USD/JPY - 113.80
The greenback's sharp retreat from last Friday's high at 114.75 to 113.56 yesterday suggests near term rise from last Tuesday's low at 111.70 has made a temporary top there and consolidation with downside bias would be seen for retracement towards 113.48, then 113.10/20.
However, 112.83 (previous resistance, now support) would remain intact today and yield rebound later.

On the upside, only above 114.59 would confirm aforesaid pullback has ended instead and turn outlook bullish for a re-test of 114.75, break there would bring gain towards February's peak at 114.96 later this week.

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AceTraderFx Mar 13: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 13 Mar 2017 09:34 GMT

USD/JPY - 114.67
As the greenback continues to ratchet higher after yesterday's break of February's peak at 114.96, suggesting upmove from February's trough at 111.60 remains in progress and further gain towards 115.96/00 would be seen after consolidation, above there would extend marginally.
However, loss of momentum would prevent steep move beyond there and yield a much-needed correction early next week.

On the downside, only below 113.56 would abort daily bullish outlook on the greekback and risk stronger retracement of recent rise from 111.70 towards 112.83.

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

DAILY MARKET OUTLOOK
Update Time: 16 Mar 2017 09:00 GMT

USD/JPY - 113.22
The greenback's selloff yesterday to 113.18 in New York afternoon after the Federal Reserve's rate hike and then to 112.91 today suggests the upmove from February's trough at 111.60 has made a temporary top at 115.51 last Friday and consolidation with downside bias remains for weakness towards 112.53/55.
However, near term loss of momentum would keep price above 111.92 today and yield correction.

On the upside, only above 114.05 would indicate a temporary low has been made instead and turn outlook bullish for a stronger retracement towards 114.75 early next week.

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[acetraderfx]

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

DAILY MARKET OUTLOOK
Update Time: 20 Mar 2017 09:19 GMT

USD/JPY - 112.73
The greenback's selloff to as low as 112.56 last Friday on dollar's broad-based weakness following a dovish Federal Reserve monetary policy statement and then intra-day break of this support confirms erratic upmove from February's trough at 111.60 has made a temporary top at 115.51 in March and downside bias would be seen.
However, near term loss of momentum would keep price above 111.60/70.

On the upside, only above 113.55 would abort daily bearishness and risk stronger retracement of aforesaid fall to 114.05, then 114.26 before prospect of another fall.

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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 21: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 21 Mar 2017 09:22 GMT

USD/JPY - 112.74
The greenback's selloff to as low as 112.56 last Friday on dollar's broad-based weakness following a dovish Federal Reserve monetary policy statement and then intra-day break of this support confirms erratic upmove from February's trough at 111.60 has made a temporary top at 115.51 in March and downside bias would be seen.
However, near term loss of momentum would keep price above 111.60/70.

On the upside, only above 113.55 would abort daily bearishness and risk stronger retracement of aforesaid fall to 114.05, then 114.26 before prospect of another fall.

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 Mar 22: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 22 Mar 2017 09:33 GMT

USD/JPY - 111.37
The greenback's selloff yesterday and subsequent break of February's trough at 111.60 signals the erratic decline from December 2016 peak at 118.66 has finally resumed and consolidation with downside bias remains for further weakness towards 111.10/15.
However, as this move is losing downward momentum, reckon support at 110.80 would remain intact and yield a much-needed correction later.

On the upside, only above 112.26 (previous support) would indicate a temporary low has been made and risk stronger retracement towards 112.90.

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

DAILY MARKET OUTLOOK
Update Time: 23 Mar 201709:02 GMT

USD/JPY - 111.19
The greenback's selloff yesterday and subsequent break of February's trough at 111.60 signals the erratic decline from December 2016 peak at 118.66 has finally resumed and consolidation with downside bias remains for further weakness towards 110.50/60, however, as this move is losing downward momentum, reckon support at 110.27 would remain intact and yield a much-needed correction later.

On the upside, only above 112.26 (previous support) would indicate a temporary low has been made and risk stronger retracement towards 112.90.

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 Mar 24: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 24 Mar 2017 09:16 GMT

USD/JPY - 111.26
The greenback's selloff yesterday and subsequent break of February's trough at 111.60 signals the erratic decline from December 2016 peak at 118.66 has finally resumed and consolidation with downside bias remains for further weakness towards 110.50/60.
However, as this move is losing downward momentum, reckon support at 110.27 would remain intact and yield a much-needed correction later.

On the upside, only above 112.26 (previous support) would indicate a temporary low has been made and risk stronger retracement towards 112.90.

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 Mar 28: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 28 Mar 2017 09:12 GMT

USD/JPY - 110.66
The greenback opened lower in New Zealand as President Trump failed to push through his healthcare bill in Congress and subsequent fall below last week's low at 110.63 signals decline from December's peak at 118.66 has once again resumed and consolidation with downside bias remains for weakness towards 109.90/00.
However, loss of momentum would prevent steep fall below there and risk would increase for a much-needed correction later this week.

On the upside, only above 111.58 would be the first sign that a temporary low has been made and risk stronger retracement to 112.11 before prospect of another decline 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