AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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AceTraderFx Jun 14: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
14 Jun 2017 06:15GMT

DAILY USD/JPY OUTLOOK - 110.07
Although dlr's cross-inspired decline from 110.81 (Friday) to 109.63 yesterday signals 1st leg of correction from last Wednesday's 6-week trough at 109.12 has ended, subsequent bounce to 110.27 on Tuesday would head to 110.44/48 but above needed to extend towards 110.81.

Buy again for 110.75 and only below 109.63 risks weakness to 109.38, break yields re-test of 109.12.

U.S. will release a slew of key eco. data ahead of Fed rate decision starting with MBA mortgage applications, CPI, retail sales, real weekly earnings.
The Fed rate decision is at 18:00GMT followed by Fed Chair Yellen's press conference at 18:30GMT.

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

DAILY MARKET OUTLOOK on Major
Update: 16 Jun 2017 09:27GMT

DAILY USD/JPY OUTLOOK - 111.14
Dlr's impressive rally in post-FOMC 7-week low at 108.83 to as high as 111.27 today confirms decline from May's 114.37 has made a low there and upside bias remains for gain to 111.60 (50% r).
However, reckon 112.13 should hold and yield retreat later.

Raise long entry for this move and only below 110.34 risk stronger retrace to 109.87 before another rise

Pay attention to a slew of U.S. eco. data later in the day starting with building permits, housing starts and University of Michigan consumer confidence, if actual readings of the latter 2 data come out better than street forecast, then the greenback will head higher in New York morning.

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Jun 2017 09:12 GMT

USD/JPY - 111.63
The greenback's strong rebound from last Thursday's low at 110.95 suggests the pullback from last Tuesday's high at 111.79 has ended there and consolidation with upside bias would be seen for upmove from June's 7-week trough at 108.83 to resume and yield re-test of said resistance.
Break would extend towards 112.10/13 before prospect of a correction due to loss of momentum.

On the downside, only below 110.95 would abort daily bullishness and risk stronger retracement of aforesaid upmove towards 110.66, then 110.34/35.

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Jun 2017 09:03 GMT

USD/JPY - 111.57
The greenback's strong rebound from last Thursday's low at 110.95 suggests the pullback from last Tuesday's high at 111.79 has ended there and consolidation with upside bias would be seen for upmove from June's 7-week trough at 108.83 to resume and yield re-test of said resistance, break would extend towards 112.10/13 before prospect of a correction due to loss of momentum.

On the downside, only below 110.95 would abort daily bullishness and risk stronger retracement of aforesaid upmove towards 110.66, then 110.34/35.

Data to be released on Tuesday:
Italy consumer confidence, business confidence, UK CBI trades, U.S. redbook, home price and consumer confidence.

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

DAILY MARKET OUTLOOK on Major
Update Time: 30 Jun 2017 09:36 GMT

USD/JPY - 112.00
The greenback's intra-day break of Tuesday's high at 112.47 suggests erratic upmove from June's trough at 108.82 has once again resumed and consolidation with upside bias remains for gain towards 113.00, then 113.13 (previous support), however, near term loss of momentum would prevent strong gain beyond there and risk would increase for a much-needed correction early next week.

On the downside, only below 111.79 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.37/40.

Data to be released on Friday:
Germany retail sales, France consumer spending, CPI, UK consumer confidence, GDP, current account, EU CPI, core CPI.
Canada GDP, PPI, U.S. PCE, personal spending, Chicago PMI and consumer sentiment.

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

DAILY MARKET OUTLOOK on Major
Update Time: 06 Jul 2017 09:08 GMT

USD/JPY - 113.35
The greenback's break of Monday's high at 113.47 to 113.69 yesterday suggests erratic upmove from June's trough at 108.82 has once again resumed and consolidation with upside bias remains for gain towards 113.85/90, then 114.10/20, however, near term loss of momentum would prevent strong gain beyond there and risk would increase for a much-needed correction early next week.

On the downside, only below 111.79 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.37/40.

Data to be released:
Germany industrial orders, Swiss CPI, U.S. trade balance, jobless claims, ISM non-manufacturing PMI, Canada imports, exports and trade balance.

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

DAILY MARKET OUTLOOK on Major
Update Time: 07 Jul 2017 09:26 GMT

USD/JPY - 113.74
The greenback's intra-day break of Wednesday's high at 113.69 suggests erratic upmove from June's trough at 108.82 has once again resumed and consolidation with upside bias remains ahead of today's non-farm payrolls release for gain towards 113.85/90, then 114.10/20, however, near term loss of momentum would prevent strong gain beyond there and risk would increase for a much-needed correction early next week.

On the downside, only below 111.79 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.37/40.

Data to be released on Friday:
Australia construction index, Japan leading indicator, Swiss unemployment rate, Germany industrial output, France budget balance, trade balance, imports, exports, Italy retail sales, UK construction output, industrial output, manufacturing output, goods trade balance, Canada employment change, unemployment rate, Ivey PMI, U.S. non-farm payrolls, private payrolls, average earnings and unemployment rate.

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Jul 2017 10:00 GMT

USD/JPY - 114.17
The greenback's intra-day break of Friday's high at 114.18 suggests erratic upmove from June's trough at 108.82 has once again resumed and consolidation with upside bias remains for a re-test of May's peak at 114.37, break there would retain bullishness for 114.50/60.
However, loss of momentum would prevent sharp move beyond there and risk would increase for a much-needed correction later this week.

On the downside, only below 111.79 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.37/40.

After Friday's key U.S. jobs data, no U.S. eco. data will be due out today.
The next important eco. event is Wednesday's semi-annual monetary policy testimony by Fed Chair before the House Financial Services Committee.

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AceTraderFx July 12: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 12 Jul 2017 09:37 GMT

USD/JPY - 113.42
The greenback's intra-day break of Friday's high at 114.18 suggests erratic upmove from June's trough at 108.82 has once again resumed and consolidation with upside bias remains for a re-test of May's peak at 114.37, break there would retain bullishness for 114.50/60, however, loss of momentum would prevent sharp move beyond there and risk would increase for a much-needed correction later this week.

On the downside, only below 111.79 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.37/40.

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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 July 13: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 13 Jul 2017 09:23GMT

USD/JPY - 113.04
The greenback's intra-day break of Friday's high at 114.18 suggests erratic upmove from June's trough at 108.82 has once again resumed and consolidation with upside bias remains for a re-test of May's peak at 114.37, break there would retain bullishness for 114.50/60.
However, loss of momentum would prevent sharp move beyond there and risk would increase for a much-needed correction later this week.

On the downside, only below 111.79 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.37/40.

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