AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

DAILY MARKET OUTLOOK on Major
Update Time: 13 Oct 2017 09:25 GMT

USD/JPY - 112.06
Dollar's intra-day cross-inspired break of this week's low at 111.99 (Tue) confirms decline from last Friday's 2-1/2 month peak at 113.44 has resumed and would head towards 111.48, oversold condition may keep price above 111.12.

Only above 112.32 (AUS) suggests correction has possibly ended and yields stronger gain towrds 112.59 but 112.83 would cap upside.

U.S. will release CPI, retail sales, business inventories and U. of Michigan consumer confidence.
Today, we have a line of Fed officials delivering speeches starting with Boston Fed's Rosengren (non-voter) n Fed Gov. Powell (voter) at 12:30GMT, then Chicago Fed's Evans (voter) at 14:25GMT, Dallas Fed's Kaplan (voter) at 15:30GMT n Fed's Powell again at 17:00GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 18 Oct 2017 09:55 GMT

USD/JPY - 112.51
Despite dollar's drop to 111.65 on Monday, subsequent rally to 112.29 in New York, then marginally higher to 112.48 yesterday suggests the pullback from October's 2-1/2 month peak at 113.44 has ended there and choppy trading with upside bias would be seen for gain towards 112.59, above would add credence to this view and extend further, however, resistance at 112.83 should remain intact and yield retreat.

On the downside, only below 111.65 would revive bearishness for a stronger retracement of erratic upmove from 107.32 towards 111.48/50, then 111.12.
U.S. will release building permits, housing starts and later Fed's beige book. Pay attention to New York Fed President Dudley (voter) and Dallas President Kaplan (voter) who will participate in moderated discussion at a forum in New York at 12:00GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Oct 2017 09:12 GMT

USD/JPY - 114.11
The greenback's rally from yesterday's low at 113.34 and intra-day break of Wednesday's fresh 3-1/2 month peak at 114.24 signals recent erratic upmove has once again resumed and consolidation with upside bias would be seen for gain towards daily resistance at 114.49, above would extend marginally but loss of momentum would keep price below 114.90/00 ahead of today's U.S. GDP release.

On the downside, only below 113.34 would indicate a temporary top has been made and risk would increase for a stronger retracement to 112.70/80 before prospect of rebound.

Data to be released on Friday:
Japan national CPI, Tokyo CPI, Australia PPI, U.K. nationwide house price, France consumer confidence and U.S. GDP annualized, GDP deflator, PCE prices, University of Michigan sentiment.

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

DAILY MARKET OUTLOOK on Major
Update Time: 01 Nov 2017 09:22 GMT

USD/JPY - 113.73
Despite the greenback's rally from Thursday's low at 113.34 to a fresh 3-1/2 month peak at 114.45, subsequent retreat signals recent erratic upmove has formed a temporary top there and choppy trading with downside bias would be seen for weakness towards 112.80/90 but loss of momentum would keep price above 112.50 and yield rebound later this week.

On the upside, only above 114.45 would revive bullishness for gain towards 114.60/70 before prospect of a correction due to over bought condition.

Ahead of FOMC, U.S. will release Markit mfg PMI, construction spending, ISM-mfg PMI. Although the Fed is widely expected to keep its interest rate unchanged at today's meeting until its final meeting in December (13th), market will look at the FOMC statements (as no press conference is scheduled) for clues on Fed's view about the labour market and the U.S. economic outlook.

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

DAILY MARKET OUTLOOK on Major
Update Time: 02 Nov 2017 09:12 GMT

USD/JPY - 114.06
Despite the greenback's rally from Thursday's low at 113.34 to a fresh 3-1/2 month peak at 114.45, subsequent retreat signals recent erratic up move has formed a temporary top there and choppy trading with downside bias would be seen for weakness towards 112.80/90 but loss of momentum would keep price above 112.50 and yield rebound later this week.

On the upside, only above 114.45 would revive bullishness for gain towards 114.60/70 before prospect of a correction due to over bought condition.

U.S. will release weekly jobless claims, non-farm productivity, ISM New York bus. conditions index. New York Fed President Dudley will give closing remarks before the Alternative Reference Rates Committee (ARRC) Roundtable at 16:15GMT but Fed Gov. Powell will participate in this forum via prerecorded video at 12:30GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 06 Nov 2017 09:20 GMT

USD/JPY - 114.28
The greenback's intra-day break of October's 3-1/2 month peak at 114.45 suggests recent erratic uptrend from September's trough at 107.32 has once again resumed and choppy trading with upside bias would be seen for gain towards 1145.00/10 but over bought condition would prevent sharp move beyond there and risk would increase for a much-needed correction later.

On the downside, only below 112.96 would indicate a temporary top has been made and risk stronger retracement towards 112.69/70 but support at 112.30 should remain intact, bring rebound.

Data to be released :
Germany industrial orders, Markit services PMI, Swiss CPI, Italy Markit services PMI, France Markit services PMI, EU Markit services PMI, sentix index, producer prices, and Canada Ivey PMI.

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

DAILY MARKET OUTLOOK on Major
Update Time: 07 Nov 2017 09:20 GMT

USD/JPY - 114.14
The greenback's break of October's 3-1/2 month peak at 114.45 to 114.74 yesterday suggests recent erratic uptrend from September's trough at 107.32 has once again resumed and choppy trading with upside bias would be seen for gain towards 115.00/10 but over bought condition would prevent sharp move beyond there and risk would increase for a much-needed correction later.

On the downside, only below 112.96 would indicate a temporary top has been made and risk stronger retracement towards 112.69/70 but support at 112.30 should remain intact, bring rebound.

News to be released on Tuesday:
U.K. BRC retail sales, Halifax house price, NIESR GDP estimate, Australia interest rate decision, Germany industrial output, Italy retail sales, EU retail sales and U.S. redbook, JOLTS job openings.

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

DAILY MARKET OUTLOOK on Major
Update Time: 13 Nov 2017 09:30 GMT

USD/JPY - 113.49
Although dollar's rebound from 113.09 (Thursday) to 113.64 on Friday, then intra-day initial gain to 113.72 suggests decline from last Monday's 7-1/2 month peak at 114.74 has made a low, intra-day retreat on cross-buying in yen due to retreat in U.S. yields and weakness in the Nikkie would bring sideways trading before prospect of further headway twd 114.07 later today or tom.

Only below 113.22 would risk re-test of 113.09, however, loss of downward momentum would keep price above 112.73.

Monday data to be released:
Japan CGPI, Canada market holiday, and U.S. federal budget.

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

DAILY MARKET OUTLOOK on Major
Update Time: 14 Nov 2017 09:20 GMT

USD/JPY - 113.86
The greenback's rebound from last Thursday's low at 113.09 to 113.72 yesterday and then intra-day break of this resistance strongly suggests decline from last Monday's 7-1/2 month peak at 114.74 has made a temporary low there and choppy trading with upside bias would be seen but above 114.07 is needed to add credence to this view and extend towards 114.34 later.

On the downside, only below 113.22/25 would confirm aforesaid recovery has ended instead and turn outlook bearish for a re-test of 113.09, break, 112.70/73 later.

U.S. will release PPI data n Redbook retails sales at 13:30GMT. Chair Janet Yellen will participate in policy panel before the CB Conference, the theme is Communications Challenges for Policy Effectiveness, Accountability and Reputation at 10:00GMT. Other Fed officials will be speaking later today (please refer to EI page for details).

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

DAILY MARKET OUTLOOK on Major
Update Time: 15 Nov 2017 09:20 GMT

USD/JPY - 112.82
The greenback's intra-day sharp retreat n subsequent break of last Thursday's low at 113.09 signals erratic decline from November's fresh 7-1/2 month peak at 114.74 has resumed and choppy trading with downside bias would be seen for weakness towards 112.48/50 but near term loss of momentum would prevent sharp fall beyond there and reckon support at 112.30 would remain intact and yield rebound.

On the upside, only above 113.50 would indicate a temporary low has been made and risk stronger retracement towards 113.91 before prospect of pullback.

Data to be released on Wednesday:
France CPI, U.K. claimant count, ILO unemployment rate, average weekly earnings, EU trade balance.
U.S. MBA mortgage application, CPI, core CPI, real weekly earnings, New York Fed manufacturing, retail sales, retail sales ex-autos, business inventories.

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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates