AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

DAILY MARKET OUTLOOK on Major
Update Time: 18 May 201709:16 GMT

USD/JPY - 110.84
The greenback's sharp selloff yesterday and subsequent break of Monday's low at 113.13 to 110.53 today signals decline from last Wednesday's 8-week peak at 114.37 remains in progress and consolidation with downside bias remains for weakness towards 110.20/30.
However, near term loss of momentum would prevent sharp move beyond there and risk would increase of a much-needed rebound later.

On the upside, only above 112.55 would indicate the first leg of correction has ended and turn outlook bullish for gain to 113.15 but resistance at 113.85 should remain intact, bring retreat.

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

DAILY MARKET OUTLOOK on Major
Update Time: 23 May 2017 09:18 GMT

USD/JPY - 111.21
The greenback's recent swings after last Thursday's rebound from 110.24 to 111.73 are likely to continue and intra-day rebound from 110.86 has retained bullishness but above 111.73 is needed to yield stronger retracement of decline from May's peak at 114.37 towards 112.24/30, however, resistance at 112.94 should remain intact this week and yield retreat.
On the downside, only below 110.53 would confirm the recovery from 110.24 has ended instead and turn outlook bearish for weakness to 110.24, break, 110.00 later.

Data to be released on Tuesday:
Swiss trade balance, France business climate, manufacturing PMI, services PMI, Germany GDP, manufacturing PMI, services PMI, EU manufacturing PMI, services PMI, UK PSNB, PSNCR, CBI trends, U.S. redbook, manufacturing PMI, services PMI and new home sales.

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

DAILY MARKET OUTLOOK on Major
Update Time: 25 May 2017 09:05 GMT

USD/JPY - 111.78
The greenback's recent swings after last Thursday's rebound from 110.24 to 112.13 are likely to continue and intra-day rebound from 111.46 has retained bullishness but above 112.13 is needed to yield stronger retracement of decline from May's peak at 114.37 towards 112.24/30.
However, resistance at 112.94 should remain intact this week and yield retreat.

On the downside, only below 110.53 would confirm the recovery from 110.24 has ended instead and turn outlook bearish for weakness to 110.24, break, 110.00 later.

Data to be released on Thursday:
Italy industrial sales, industrial orders, UK mortgage approvals, GDP, U.S. jobless claims, trade balance and wholesale inventories.

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AceTraderFx May 31: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 31 May 2017 09:45 GMT

USD/JPY -110.97
Despite intra-day selloff to 110.67 in New York yesterday, subsequent rebound suggests further choppy trading above May's trough at 110.24 would continue with upside bias and gain towards resistance at 111.47 is likely.
However, as broad-outlook remains consolidative, reckon 112.13 (reaction high) would remain intact this week and yield retreat.

On the downside, only below 110.67 would revive bearishness for weakness towards 110.53, daily close below there would bring re-test of 110.24 later.

Data to be released later:
Germany import price index, retail sales, unemployment rate, France HICP, PPI, Italy PPI, UK consumer confidence, shop price, mortgage approvals, EU CPI, unemployment rate.
Canada GDP, U.S. redbook and pending home sales.

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AceTraderFx Jun 01: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 01 Jun 2017 09:15 GMT

USD/JPY - 111.06
Despite intra-day selloff to 110.49 in New York yesterday, subsequent rebound suggests further choppy trading above May's trough at 110.24 would continue with upside bias and gain towards resistance at 111.47 is likely.
However, as broad-outlook remains consolidative, reckon 112.13 (reaction high) would remain intact this week and yield retreat.

On the downside, only below 110.49 would revive bearishness for weakness towards 110.24, daily close below there would signal recent decline has resumed and extend to 110.00.

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AceTraderFx Jun 02: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 02 Jun 2017 09:13 GMT

USD/JPY - 111.52
Despite intra-day selloff to 110.49 in New York Wednesday, subsequent rebound suggests further choppy trading above May's trough at 110.24 would continue ahead of today's U.S. jobs report with upside bias and gain towards resistance at 111.94 is likely, however, as broad-outlook remains consolidative, reckon 112.13 (reaction high) would remain intact this week and yield retreat.

On the downside, only below 110.49 would revive bearishness for weakness towards 110.24, daily close below there would signal recent decline has resumed and extend to 110.00.
Market focus is obviously the U.S. payrolls at 12:30GMT, street forecast is look for an increase of 185K growth vs prev. reading of 211K n monthly earnings' growth of 0.2%, if actual numbers beat expectation, then usd will continue its broad-based short-covering rally, if they fall short of expectation, then be ready for another round usd bashing.

After release of U.S. data, 2 Fed officials (both voters) will be speaking publically (last b4 FOMC meeting on Jun 14-15). Philly Fed President Harker at 16:45GMT n Dallas Fed President Kaplan at 17:00GMT.

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AceTraderFx Jun 05: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 05 Jun 2017 09:07 GMT

USD/JPY - 110.48
Despite intra-day selloff to 110.33 in New York on Friday after poor U.S. jobs report, subsequent rebound suggests further choppy trading above May's trough at 110.24 would continue with upside bias and gain towards resistance at 11188 is likely, however, as broad-outlook remains consolidative, reckon 111.48 would remain intact this week and yield retreat.

On the downside, only below 110.33 would revive bearishness for weakness towards 110.24, daily close below there would signal recent decline has resumed and extend to 110.00.

Data to be released today:
Italy services PMI, France services PMI, Germany services PMI, EU services PMI, sentix index, UK services PMI.
U.S. labour costs, productivity, services PMI, factory orders and ISM non-manufacturing PMI on Monday.

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

DAILY MARKET OUTLOOK on Major
Update Time: 06 Jun 2017 09:04 GMT

USD/JPY - 109.63
Dollar's intra-day fall below previous key support at 110.24 (May) signals erratic decline from May's peak at 114.37 has once again resumed and consolidation with downside bias would be seen for weakness towards 109.32, however, loss of momentum would prevent sharp fall beyond there and reckon 108.89 would remain intact this week and yield a much-needed correction later.

On the upside, only above yesterday's high at 110.73 would indicate a temporary low has been made and risk stronger retracement to 111.47/50 before prospect of another retreat.

Data to be released on Tuesday:
UK BRC retail sales, EU retail sales, U.S. Redbook and Canada Ivey PMI.

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

DAILY MARKET OUTLOOK on Major
Update Time: 07 Jun 2017 09:18 GMT

USD/JPY - 109.30
Dollar's intra-day fall below previous key support at 110.24 (May) signals erratic decline from May's peak at 114.37 has once again resumed and consolidation with downside bias would be seen for weakness towards 109.05/10.
However, loss of momentum would prevent sharp fall beyond there and reckon 108.89 would remain intact this week and yield a much-needed correction later.

On the upside, only above yesterday's high at 110.73 would indicate a temporary low has been made and risk stronger retracement to 111.47/50 before prospect of another retreat.

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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 Jun 08: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 08 Jun 2017 09:30 GMT

USD/JPY - 109.89
Despite yesterday's selloff to a fresh 6-week trough at 109.12, subsequent strong rebound to 110.01 at Asian open today suggests the erratic decline from May's peak at 114.37 has made a temporary bottom there and choppy trading with upside bias would be seen for gain towards 110.24 (previous support, now resistance), however, near term loss of momentum would keep price below 110.40/50 and yield retreat.

On the downside, only below 109.12 would revive bearishness for further weakness towards 108.89/90 but over sold condition would prevent steep fall beyond there and risk would increase for a correction 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