AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

DAILY MARKET OUTLOOK on Major
Update Time: 11 Apr 2018 09:30 GMT

USD/JPY - 107.00
Although price has retreated after dollar's rise to a fresh 1-month peak at 107.49 last week and minor consolidation would be seen, as said move signals medium-term decline has made a temporary low at March's 15-month bottom at 104.57, upside bias is retained and above 107.49 would yield stronger retracement towards 107.90.
However, near term loss of momentum would keep price below 108.35/40.

On the downside, only below 105.99 would indicate the first leg of correction has ended instead and turn outlook bearish for weakness towards 105.67/70.

Data to be released on Wednesday:
Japan corporate goods price, machinery orders, Australia consumer sentiment, China PPI, CPI, .
Italy retail sales, U.K. construction output, industrial output, manufacturing output, trade balances.
U.S. MBA mortgage application, core CPI, CPI, Federal budget and FOMC minutes.

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

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

USD/JPY - 106.91
Dollar's intra-day sideways move after early retreat from Tuesday's high at 107.40 to 106.65 yesterday suggests further choppy trading below last week's 1-month peak at 107.49 would continue with mild downside bias and marginal weakness from here cannot be ruled out.
Hhowever, as broad-outlook remains consolidative, reckon 106.41 should remain intact and yield another rebound towards said resistance, break would extend to 107.65 later.

On the downside, only below 106.41 would indicate upmove from March's trough at 104.57 has ended there and instead and turn outlook bearish for a stronger retracement to 106.03.

U.S. will release a slew of eco. data later in the day starting with weekly jobless claims, import n export prices.
We have 2 Fed Presidents (both non-voters) speaking, Dallas Fed's Kaplan at 17:00GMT n then Minneapolis Fed's Kashkari) at 21:00GMT.

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

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

USD/JPY - 107.57
Dollar's intra-day rally and subsequent break of last week's 1-month peak at 107.49 signals medium-term rise from 104.57 has once again resumed and consolidation with upside bias remains for further gain towards 107.68/70 would be seen after consolidation, h.
However, over bought condition would keep price below 108.28/30 and yield a much-needed correction.

On the downside, only below 106.41 would indicate upmove from March's trough at 104.57 has ended there and instead and turn outlook bearish for a stronger retracement to 106.03.

T.G.I.F., U.S. eco. calendar is pretty light today with JOLTS jobs openings n University of Michigan consumer confidence being the only data due out during NY morning. However, we have a no. of Fed officials delivering speeches, they are in order of appearance, Boston Fed's Rosengren, St. Louis Fed's Bullard n Dallas Fed's Kaplan.

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

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

USD/JPY - 107.21
Dollar's intra-day rally and subsequent break of April's 1-month peak at 107.49 to 107.78 last Friday signals medium-term rise from 104.57 has once again resumed and consolidation with upside bias remains for further gain towards 107.90/95.
However, over bought condition would prevent sharp rise beyond there and keep price below 108.28/30 and yield a much-needed correction later this week.

On the downside, only below 106.41 would indicate upmove from March's trough at 104.57 has ended there and instead and turn outlook bearish for a stronger retracement to 106.03.

Today's data:
Germany wholesale price, Swiss producer import price, and U.S. New York Fed manufacturing index,

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

DAILY MARKET OUTLOOK on Major
Update Time: 18 Apr 2018 09:30 GMT

USD/JPY - 107.32
Dollar's intra-day rally and subsequent break of April's 1-month peak at 107.49 to 107.78 last Friday signals medium-term rise from 104.57 has once again resumed and consolidation with upside bias remains for further gain towards 107.90/95.
However, over bought condition would prevent sharp rise beyond there and keep price below 108.28/30 and yield a much-needed correction later this week.

On the downside, only below 106.41 would indicate upmove from March's trough at 104.57 has ended there and instead and turn outlook bearish for a stronger retracement to 106.03.

No major U.S. eco. data is due out today except Fed beige book at 18:00GMT.
Today, we have more Fed officials delivering speeches starting with New York Fed Dudley at 12:30GMT, then again at 19:00GMT, after that, we have Fed's Quarles at at 20:15GMT.

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

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

USD/JPY - 107.32
Dollar's intra-day rally and subsequent break of April's 1-month peak at 107.49 to 107.78 last Friday signals medium-term rise from 104.57 has once again resumed and consolidation with upside bias remains for further gain towards 107.90/95.
However, over bought condition would prevent sharp rise beyond there and keep price below 108.28/30 and yield a much-needed correction later this week.

On the downside, only below 106.41 would indicate upmove from March's trough at 104.57 has ended there and instead and turn outlook bearish for a stronger retracement to 106.03.

Data to be released on Thursday:
EU current account, U.K. retail sales, core retail sales, initial jobless claims, leading indicator.
Canada ADP employment change

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

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

USD/JPY - 107.89
Dollar's intra-day break of last Friday's 7-week peak at 107.86 signals upmove from March's trough at 104.57 has once again resumed and consolidation with upside bias remains for further gain towards 108.29 would be seen.
However, loss of momentum would prevent sharp move beyond there and reckon 108.50/60 would remain intact and yield a much-needed correction later this week.

On the downside, only below 107.10 would indicate a temporary top has been made and risk would increase for a stronger retracement towards 106.62 later.

Data to be released later today:
France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI.
Canada wholesale sales, and U.S. national activity index, Markit manufacturing PMI, Markit services PMI, existing home sales.

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Apr 2018 09:30 GMT

USD/JPY - 109.35
Dollar's intra-day break of yesterday's 2-month peak at 109.45 yesterday signals upmove from March's trough at 104.57 has once again resumed and consolidation with upside bias remains for further gain towards 109.79/80.
However, loss of momentum would prevent sharp move beyond there and reckon 110.00 would remain intact and yield a much-needed correction later this week.

On the downside, only below 107.10 would indicate a temporary top has been made and risk would increase for a stronger retracement towards 106.62 later.

Data out later on Thursday :
Germany Gfk consumer confidence, U.K. BBA mortgage approvals, CBI distributive trades, EU ECB interest rate decision, deposit rate decision.
U.S. durable goods, durable goods ex-transportation, durable goods ex-defence, goods trade balance, wholesale inventories, initial jobless claims, Kansas Fed manufacturing activity.

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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 Apr 30: Daily Recommendations on Major -USD/JPY

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

USD/JPY - 109.27
Although price has retreated after Friday's rise to a fresh 10-week peak at 109.54 on dollar's broad-based strength and minor consolidation would be seen, as said move signals upmove from March's trough at 104.57 has resumed.
Upside bias remains and above said resistance would extend marginally. However, loss of momentum would keep price below 110.00 and yield a much-needed correction later.

On the downside, only below 108.55 would indicate a temporary top has been made and risk a stronger retracement towards 107.90 before prospect of rebound.

U.S. will release of a slew of eco. data starting with Mar core CPI, personal income and spending, Chicago PMI, pending home sales abd Dallas Fed mfg index.

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AceTraderFx May 04: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 04 May 2018 09:30 GMT

USD/JPY - 109.05
Although the greenback has retreated in post-FOMC trading after earlier rise to a fresh 4-month peak at 110.04 yesterday and minor consolidation would be seen ahead of today's release of U.S. jobs report, as said move signals erratic rise from March's trough at 104.57 has resumed, upside bias is retained and above said resistance would extend towards 110.25/30 before prospect of a correction early next week.

On the downside, only below 108.75/80 would indicate a temporary top has been made and risk stronger retracement to 108.50/55.
However, 108.13 should remain intact and yield rebound.

U.S. will release a slew of data starting with NFP, average earnings n unemployment rate due out at 12:30GMT.
After that, we have 3 Fed officials delivering speeches in New York afternoon session.

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