AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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AceTraderFx July 19: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 19 Jul 201709:02 GMT

USD/JPY - 112.14
The greenback's fall below last Friday's low at 112.27 to 111.69 yesterday signals decline from July's near 4-month peak at 114.49 remains in progress and consolidation with downside bias remains for weakness towards 111.31 (50% retracement of rise from 108.13).
However, near term loss of momentum would keep price above 110.95 this week and yield a much-needed correction later.

On the upside, only above 112.87 would indicate a temporary low has been made and risk would increase for a stronger gain to 113.58, then 113.73.
U.S. will later release mortgage applications, building permits n housing starts, if these housing data come in weaker than street forecast, then usd will be sold again b4 prospect of another recovery.

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

DAILY MARKET OUTLOOK on Major
Update Time: 20 Jul 2017 09:08 GMT

USD/JPY - 112.28
The greenback's fall below last Friday's low at 112.27 to 111.69 yesterday signals decline from July's near 4-month peak at 114.49 remains in progress and consolidation with downside bias remains for weakness towards 111.31 (50% retracement of rise from 108.13).
However, near term loss of momentum would keep price above 110.95 this week and yield a much-needed correction later.

On the upside, only above 112.87 would indicate a temporary low has been made and risk would increase for a stronger gain to 113.58, then 113.73.
Later in the day, U.S. will release weekly initial jobless claims. Philly Fed survey and then leading indicators.

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

DAILY MARKET OUTLOOK on Major
Update Time: 25 Jul 2017 09:33 GMT

USD/JPY - 111.28
The greenback's intra-day fall below last Friday's low at 111.02 to 110.64 yesterday signals decline from July's near 4-month peak at 114.49 remains in progress and consolidation with downside bias remains for weakness towards 110.56 (61.8% retracement of rise from 108.13).
However, near term loss of momentum would keep price above 109.63 this week and yield a much-needed correction later.

On the upside, only above 112.42 would indicate a temporary low has been made and risk would increase for a stronger gain to 112.87, then 113.58.

The FOMC will start its 2-day meeting today and as no press conference is scheduled, market wide expects it to be a non-event, so dlr is unlikely to make further upside gain.
However, pay attention to release of a slew of U.S. data later in the day starting with Redbook retail sales, CS home price, consumer confidence and Richmond Fed mfg index.

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Jul 2017 09:34 GMT

USD/JPY - 111.71
Despite the greenback's intra-day fall below last Friday's low at 111.02 to 110.64 Monday, subsequent rebound signals decline from July's near 4-month peak at 114.49 has made a temporary bottom there and consolidation with upside bias would be seen for a stronger retracement towards 112.42, above would add credence to this view and extend marginally.
However, 112.87 would remain intact ahead of today's FOMC rate decision.

On the downside, only below 111.34 (previous resistance) would indicate aforesaid recovery has ended and turn outlook bearish for weakness towards 110.64 again.


Data to be released on Wednesday:
France consumer confidence, Italy consumer confidence, business confidence, U.K. mortgage approvals, GDP, inflation report hearings, and U.S. mortgage applications, new home sales, Fed monetary policy statement, Fed interest rate decision.

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

DAILY MARKET OUTLOOK on Major
Update Time: 01 Aug 2017 09:35 GMT

USD/JPY - 110.24
Although the greenback has staged a recovery after Wedesday's selloff from a New York high at 112.20 to 110.78 in Asia yesterday on the back of yesterday's slightly dovish Federal Reserve monetary policy statement and minor consolidation would be seen, as said move signals recovery from Monday's low at 110.64 has ended there.
Downside bias remains for decline from July's peak at 114.49 to resume and yield re-test of said support, break, 110.20/24 later.

On the upside, only above 111.72 (previous support) would abort daily bearish outlook and risk stronger gain towards 112.08, then 112.20 again.

Pay attention release of a slew of U.S. data in the day starting with June personal spending, personal income personal consumption expenditure, Redbook sales, July Markit mfg PMI, ISM mfg PMI and June construction spending.
If July PMIs come in weaker than forecast, expect another round of usd selling.

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AceTraderFx Aug 03: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 03 Aug 201709:12 GMT

USD/JPY - 110.71
Although the greenback has staged a recovery after Wednesday's selloff from a New York high at 112.20 to 110.78 in Asia yesterday on the back of yesterday's slightly dovish Federal Reserve monetary policy statement and minor consolidation would be seen, as said move signals recovery from Monday's low at 110.64 has ended there.
Downside bias remains for decline from July's peak at 114.49 to resume and yield re-test of said support, break, 110.20/24 later.

On the upside, only above 111.72 (previous support) would abort daily bearish outlook and risk stronger gain towards 112.08, then 112.20 again.

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

DAILY MARKET OUTLOOK on Major
Update Time: 07 Aug 201710:00 GMT

USD/JPY - 110.79
Although price has recovered after intra-day marginal break of yesterday's 6-week trough at 109.87 to 109.85 in Australia and minor consolidation would be seen ahead of today's non-farm payrolls release, as said move signals decline from July's peak at 114.49 has resumed, downside bias remains and below said support would extend fall to 109.50/60.
However, loss of downward momentum would keep price above 109.27.

On the upside, only above 110.59 would indicate a temporary low has been made and risk stronger retracement towards 110.77 but resistance at 110.98 would remain intact and yield retreat later.

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AceTraderFx Aug 08: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 08 Aug 2017 08:32 GMT

USD/JPY - 110.56
Although the greenback has retreated after Friday's rally from a fresh 6-week trough at 109.85 to 111.05 on robust U.S. jobs report and minor consolidation would be seen, as said move signals erratic decline from July's peak at 114.49 has made a temporary low there, upside bias is retained and above 111.05 would yield stronger retracement towards 111.62 (38.2%).

On the downside, only below 110.29 would indicate aforesaid recovery has ended instead and risk re-test of 109.85, break would extend towards 109.60/63.

U.S. eco. calendar is very light today with Redbook retail sales being the only familiar data due out at 12:55GMT.
After last Friday's jobs report, the only data that will capture market attention are Thursday's PPI and Friday's CPI, so data watchers will have to be patient.

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AceTraderFx Aug 11: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 11 Aug 2017 09:25 GMT

USD/JPY - 109.09
THe greenback's intra-day fall to a fresh 8-week trough at 108.91 in Asia signals erratic decline from July's peak at 114.49 remains in progress and downside bias would be seen for further weakness to June's trough at 108.82, then 108.50/60.
Having said that, over sold condition would prevent sharp move beyond there and reckon April's low at 108.13 would remain intact and yield a much-needed correction.

On the upside, only above 110.18 would indicate a temporary bottom has been made and yield stronger retracement to 110.70/80 before prospect of another fall.
Today is CPI day, ahead of release of key U.S. inflation data.

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

DAILY MARKET OUTLOOK on Major
Update Time: 14 Aug 2017 09:25 GMT

USD/JPY - 109.73
Despite Friday's resumption of recent decline from 114.49 (July) to a near 4-month trough of 108.74 in New York, intra-day rally to 109.64 in Asia due to easing of tension on North Korea confirms temporary low has been made and 1-2 days of consolidation with mild upside bias is seen, however, reckon res at 110.18 would cap present rise and yield subsequent strong retreat.

On the downside, below 109.91/96 anytime signals correction is over and would yield weakness to 108.40/50.

After Fri's key U.S. inflation data, no eco. data is due out from the U.S. today, so fund flow would have a strong influence in intra-day price swings.

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