AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

DAILY MARKET OUTLOOK on Major
Update Time: 13 Aug 2017 09:20 GMT

USD/JPY - 110.00
Although dollar's resumption of upmove from last Friday's 10-1/2 month bottom at 107.32 to as high as 110.29 today confirms medium-term downtrend has made a low there, 'loss of upward momentum' is expected to cap price below daily res at 110.67 and yield retrecement of said move.

Only below 109.59 signals temporary top is made and bring stronger pullback towards 109.24 but 109.00 should contain weakness.

Later in the day, U.S. will release final PPI data for August, so do not expect this to have much influence on intra-day price swing.

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

DAILY MARKET OUTLOOK on Major
Update Time: 14 Aug 2017 09:10 GMT

USD/JPY - 110.42
Despite intra-day marginal gain to a 2-week high of 110.73, as upward momentum of near term upmove from last Friday's 10-1/2 month trough at 107.32 is weakening, strong gain is unlikely to be repeated and reckon res at 111.05 would cap upside and yield a much-needed retracement of aforesaid rise.

On the downside, a daily close below yesterday's low at 109.90 signals 1st leg of correction is over and may risk decline to 109.25/30 before prospect of rebound.

Data to be released on later:
France CPI, Swiss interest rate decision, Italy CPI, and U.K. RICS housing price balance, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPC vote cut, BoE interest rate decision, BoE QE total, BoE QE corp bond purchases.
Canada new housing price, U.S. initial jobless claims, CPI,

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

DAILY MARKET OUTLOOK on Major
Update Time: 15 Sept 2017 10:00 GMT

USD/JPY - 110.70
As dollar has risen strongly on broad-based yen selling after initial spike down to 109.55 (AUS) following another North Korea missile launch, suggesting pullback from yesterday's 1-month high at 110.04 has ended, above 111.04/05 would extend upmove from 107.32 to projected target at 111.40/45 later today.

On the downside, below 110.07 would 'prolong' volatile trading and risk another fall to 109.70/80 but reckon 109.55 would remain intact.

U.S. will release a slew of eco. data starting with retail sales, New York Fed mfg, mfg n industrial output, cap. utilization, bus. inventories and then University of Michigan consumer confidence.

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

DAILY MARKET OUTLOOK on Major
Update Time: 19 Sept 2017 09:30 GMT

USD/JPY - 111.71
Despite dlr's cross-inspired gain to a fresh 8-week high of 111.88, as near term upward momentum of recent rise from September's 10-1/2 month bottom at 107.32 is weakening, reckon upside would falter below 112.20 and yield a 'long-overdue' correction, below 111.15/18 signals temporary top is made and brings retracement to 1110.87/90 but 110.63 would contain weakness.

Only above 112.20 extends marginally but 112.40/50 would hold and yield decline later today or tomorrow.

Data to be released later today:
EU current account, construction output, ZEQ economic sentiment, Germany ZEW economic sentiment, ZEW current conditions, Canada manufacturing sales and U.S. current account, building permits, housing starts, import prices, export prices, redbook.

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

DAILY MARKET OUTLOOK on Major
Update Time: 20 Sept 2017 10:00 GMT

USD/JPY - 111.38
Dollar's retreat from Tuesday's 8-week high of 111.88 suggests range trading is likely to take place ahead pf FOMC announcement, a daily close below 111.21 (New York low) would confirm recent rise from September's 107.32 bottom has made a temporary top and bring a much-needed correction
to 110.63 and then towards 110.10/15 later this week.

Above 111.88 would extend marginal gain towards res at 112.20, however, 'loss of upward momentum' would prevent strong rise and reckon 112.40/50 would remain intact.

Ahead of key FOMC announcement at 18:00GMT and Fed Chair's press conference at 18:30GMT, U.S. will release MBA mortgage applications n existing home sales.
Although the Fed is widely expected to leave rate unchanged, market is keen to see the so-called "dot plot" where FOMC members will make their own interest rate hike projections in coming months.

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

DAILY MARKET OUTLOOK on Major
Update Time: 25 Sept 2017 10:00 GMT

USD/JPY - 112.01
Despite dollar's initial rebound from 111.95 (New Zealand) to as high as 112.53 at Asian open due to broad-based usd strength caused my weakness in the euro and nzd, intra-day retreat suggests choppy trading below last Thurday's fresh 2-month peak at 112.72 would continue with downside bias, below 111.66 (Fri's low) would bring stronger correction towards next chart obj. at 111.12.

Only above 112.53 signals pullback from 112.72 over and risks possible re-test of said res level.

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Sept 2017 09:40 GMT

USD/JPY - 112.78
Dollar's intra-day break of last Thursday's 2-month peak at 112.72 due to renewed broad-based usd's strength confirms recent strong rise from September's 107.32 bottom has once again resumed and would head to 113.00/10, however, loss of upward momentum should cap price at 113.40.

On the downside, below 112.25/30 signals temporary top is made, hen risk is seen for a retracement to 112.00, then 111.70/80 later.

Data to be released on Wednesday:
Swiss UBS consumption indicator, France consumer confidence, Italy business confidence, consumer confidence, Swiss ZEW investor sentiment, U.K. GDP, current account, Italy industrial orders, industrial sales, U.K. CBI distributive trades, and U.S. building permits, durable goods, pending home sales.

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

DAILY MARKET OUTLOOK on Major
Update Time: 03 Oct 2017 09:40GMT

USD/JPY - 113.09
Dollar's intra-day gain to 113.20 suggests re-test of last Wednesday's 2-month peak at 113.26 would be forthcoming next, break would extend recent upmove from September's 10-1/2 month bottom at 107.32 to next daily objective at 113.58, loss of upward momentum would cap price at 116.00/05 today.

On,the downside, only below 112.54 prolongs choppy sideways trading and risk weakness towards 112.22/26.

Data to be released on Tuesday:
Japan consumer confidence, U.K. Markit construction PMI, EU producer prices, and U.S. redbook, ISM New York index.

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

DAILY MARKET OUTLOOK on Major
Update Time: 06 Oct 2017 09:30 GMT

USD/JPY - 113.03
Dlr's intra-day firmness due partly to rising U.S. yields suggests re-test of September's 2-month peak at 113.26 would be seen, above confirms recent upmove from 107.32 has resumed and would head to next daily objective at 113.58, loss of momentum is likely to cap price at 114.05/10.

Failure to penetrate 113.26 and subsequent break of 112.22 would risk stronger retracement of aforesaid rise towards 111.48 before prospect of rebound.

After yesterday's hawkish comments by Fed's Harker and Williams, more Fed officials will be speaking later in the day starting with Fed's Bostic at 13:15GMT, Fed's Dudley and Fed's Kaplan at 16:15GMT and Fed's Bullard at 17:00GMT.

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AceTraderFx Oct 09: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 09 Oct 2017 10:30 GMT

USD/JPY - 112.67
Dollar's selloff from last Friday's 2-1/2 month peak at 113.44 to 112.61 due to safe-haven buying of yen in post-NFP New York session, then 112.33 earlier today (NZ) suggests recent upmove from September's 107.32 bottom has made a temporary top and consolidation with downside bias is seen.
However, firm break of 112.22 sup needed to bring stronger retracement to 111.70/80.

Expect 113.00/10 to hold and yield further decline, only above 113.22/26 risks re-test of 113.44.

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