AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

DAILY MARKET OUTLOOK on Major
Update Time: 23 Feb 2018 09:30 GMT

USD/JPY - 106.89
Although the greenback has recovered after yesterday's selloff to as low as 106.60 and minor consolidation would be seen, as said move confirms correction from last Friday's 15-month trough at 105.55 has ended at 107.90 Wednesday, downside bias is retained and below said 106.60 low would extend towards 106.10. However, near term loss of momentum would keep price above 105.90/93 and yield a rebound early next week.

On the upside, only above 107.60 would indicate aforesaid pullback has ended instead and turn outlook bullish for a re-test of said resistance, break, 108.15/20.

No U.S. eco. data is due out today but we have release of Fed's monetary policy report for the U.S. Congress at 16:00GMT.
Also, we have 3 Fed officials speaking starting with out-going Fed's Dudley (voter), Boston Fed's Rosengren (non-voter) and Cleveland Fed's Mester (voter).

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Feb 2018 05:30 GMT

USD/JPY - 106.62
The greenback's intra-day break of last Friday's low at 106.51 strongly suggests correction from February's 15-month peak at 105.55 has ended at 107.90 last Wednesday and choppy trading with downside bias would be seen for weakness towards 106.20/24.
However, near term loss of momentum would keep price above 106.10 today and yield a rebound later.

On the upside, only above 107.28 would indicate pullback from 107.90 has ended instead and turn outlook bullish for gain towards 107.50/60.

Data to be released today:
U.K. BBA mortgage approvals, and U.S. building permits, national activity index, new home sales, Dallas Fed manufacturing business index on Monday.

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

DAILY MARKET OUTLOOK on Major
Update Time: 01 Mar 2018 09:30 GMT

USD/JPY - 106.87
The greenback's break of last Friday's low at 106.51 to 106.38 Monday strongly suggests correction from February's 15-month peak at 105.55 has ended at 107.90 last Wednesday and choppy trading with downside bias would be seen for weakness towards 106.20/24, however, near term loss of momentum would keep price above 106.10 today and yield a rebound later.

On the upside, only above 107.68 would indicate pullback from 107.90 has ended instead and turn outlook bullish for a re-test of said resistance.

Data out on Thursday:
Swiss GDP, retail sales, manufacturing PMI, Germany import prices, export prices, Markit manufacturing PMI, Italy Markit manufacturing PMI, unemployment, France Markit manufacturing PMI, EU Markit manufacturing PMI, unemployment rate, U.K. Markit manufacturing PMI.
U.S. personal income, personal spending, PCE price index, initial jobless claims, Markit manufacturing PMI, construction spending, ISM manufacturing PMI, and Canada Markit manufacturing PMI

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

DAILY MARKET OUTLOOK on Major
Update Time: 05 Mar 2018 09:30 GMT

USD/JPY - 105.49
The greenback's selloff last week and subsequent break of February's 15-month trough at 105.55 to 105.25 on Friday signals medium-term decline remains in progress and consolidation with downside bias remains for weakness towards 105.00/05, then to 104.76/80.
However, oversold condition would keep price above 104.50 and yield a much-needed correction alter this week.

On the upside, only above 106.55 would abort daily bearish outlook and risk stronger gain towards 107.20 before prospect of another retreat early next week.

Data to release later today:
Italy Markit Service PMI, France Markit Service PMI, Germany Markit Service PMI, EU Markit Service PMI, sentix index, retail sales, U.K. Markit Service PMI.
U.S. Markit Service PMI, ISM non-manufacturing PMI on Monday

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

DAILY MARKET OUTLOOK on Major
Update Time: 07 Mar 2018 09:30 GMT

USD/JPY - 105.70
The greenback's selloff last week and subsequent break of February's 15-month trough at 105.55 to 105.25 on Friday signals medium-term decline remains in progress and consolidation with downside bias remains for weakness towards 105.00/05, then to 104.76/80.
However, oversold condition would keep price above 104.50 and yield a much-needed correction alter this week.

On the upside, only above 106.55 would abort daily bearish outlook and risk stronger gain towards 107.20 before prospect of another retreat early next week.

Data to be released on Wednesday:
France, current account, trade balance, imports, exports, EU GDP.
U.S. MBA mortgage application, ADP employment change, goods trade balance, and Canada housing starts, exports, imports, BoC rate decision, rate statement

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

DAILY MARKET OUTLOOK on Major
Update Time: 12 Mar 2018 09:30 GMT

USD/JPY - 106.59
Despite the greenback's selloff to a fresh 15-month trough at 105.25 in early March, subsequent strong rebound to 106.46 last Tuesday and then rise above this resistance to 107.05 last Friday suggests recent downtrend has made a temporary low there and choppy trading with upside bias would be seen for gain towards 107.10/20.
However, near term loss of momentum would keep price below 107.68/70 and yield correction.

On the downside, only below 105.89 would indicate aforesaid correction has ended and risk marginal weakness but aforesaid low should remain intact ahead of U.S. jobs report release.

No key U.S. eco. data is due out but pay attention to Tue's release of key Feb's core CPI. Until then, funds flow wud have a strg influence on intra-day price swings. The U.S. has moved its clock forward on Sun, so U.S. financial markets will open an hour earlier starting today.

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

DAILY MARKET OUTLOOK on Major
Update Time: 13 Mar 2018 09:30 GMT

USD/JPY - 106.96
Despite the greenback's selloff to a fresh 15-month trough at 105.25 in early March, subsequent strong rebound to 106.46 last Tuesday and then rise above this resistance to 107.05 last Friday suggests recent downtrend has made a temporary low there and choppy trading with upside bias would be seen for gain towards 107.10/20, however, near term loss of momentum would keep price below 107.68/70 and yield correction.

On the downside, only below 105.89 would indicate aforesaid correction has ended and risk marginal weakness but aforesaid low should remain intact ahead of U.S. jobs report release.

Data to be released on Tuesday:
France non-farm payrolls, and U.S. core CPI, CPI, Redbook.

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

DAILY MARKET OUTLOOK on Major
Update Time: 14 Mar 2018 09:30 GMT

USD/JPY - 106.59
Despite the greenback's rally to 107.29 yesterday, subsequent selloff on news of President Trump firing Secretary of State Rex Tillerson suggests correction from March's 15-month trough at 105.25 has possibly ended there and choppy trading with downside bias would be seen for weakness towards 106.25, below would add credence to this view and extend towards 105.80/82 later this week.

On the upside, only above 107.29 would revive bullishness for stronger retracement of medium-term decline towards 107.68 but near term loss of momentum would keep price below 108.90 and yield retreat.

After yesterday's key U.S. CPI data which briefly pushed the pair to session high but was quickly bashed lower on news of firing of Tillerson by Trump, U.S. will release February retail sales and February final PPI data, if the former beats market consensus by a wide margin, dlr may bounce on short covering.

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AceTraderFx Mar 16: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 16 Mar 2018 09:30 GMT

USD/JPY - 105.68
The greenback's intra-day sharp retreat and subsequent break of yesterday's low at 105.79 confirms the correction from March's 15-month trough at 105.25 has ended at 107.29 earlier and consolidation with downside bias remains for medium-term decline to resume and yield re-test of said trough early next week, however, over sold condition would prevent steep fall below there and risk would increase for a much-needed recovery later.

On the upside, only above 106.42 would indicate a temporary low has been made instead, risk stronger retracement towards 106.86/90.

Data to be released on Friday:
Germany wholesale price index, Italy CPI, EU CPI, core CPI.
U.S. building permits, housing starts, industrial production, capacity utilization, JOLTS job openings, University of Michigan sentiment, and Canada manufacturing sales

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

DAILY MARKET OUTLOOK on Major
Update Time: 19 Mar 2018 09:30 GMT

USD/JPY - 105.92
The greenback's weakness after last Friday's fall to 105.60 confirms correction from March's 15-month trough at 105.25 has ended at 107.29 last Tuesday and consolidation with downside bias remains for weakness towards 105.46, below would confirm this view and yield re-test of said support, however, over sold condition would prevent steep fall beyond there and yield a much-needed correction later this week.

ON the upside, only above 106.42 would indicate the pullback from 107.29 has ended instead and turn outlook bullish for gain towards 106.75/80.

Data out today:
Japan exports, imports, trade balance, China house price.
Italy industrial output, trade balance, EU trade balance, construction output, and UK Rightmove house price on Monday

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