AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

DAILY MARKET OUTLOOK on Major
Update Time: 01 Aug 2018 9:30 GMT

USD/JPY - 112.02
Despite the greenback's selloff to 110.59 last Thursday, subsequent strong rebound to 111.96 yesterday and intra-day break of this resistance suggests decline from July's 6-month peak at 113.17 has made a temporary low there and choppy trading with upside bias would be seen for stronger retracement towards 112.40/41 but near term loss of momentum would keep price below 112.80/82 and yield retreat later this week.

On the downside, only below 110.75 would confirm aforesaid recovery has ended instead and risk re-test of 110.59, break would extend to 110.28/30.

Ahead of FOMC policy announcement at 18:00GMT where the Fed is expected to keep rates unchanged, U.S. will release MBA mortgage applications, ADP private payrolls, Markit mfg PMI, construction spending and ISM mfg PMI, so usd will swing around after release of these data during New York morning.

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

DAILY MARKET OUTLOOK on Major
Update Time: 03 Aug 2018 9:30 GMT

USD/JPY - 111.73
Despite the greenback's selloff to 110.59 last Thursday, subsequent strong rally to 111.96 Tuesday, then to 112.15 Wednesday suggests decline from July's 6-month peak at 113.17 has made a temporary low there and choppy trading with upside bias would be seen for stronger retracement towards 112.40/41 but near term loss of momentum would keep price below 112.80/82 ahead of U.S. jobs data.

On the downside, only below 110.75 would confirm aforesaid recovery has ended instead and risk re-test of 110.59, break would extend to 110.28/30.

Data to be released on Friday :
France budget balance, Markit services PMI, Swiss CPI, Italy Markit services PMI, industrial output, retail sales, Germany Markit services PMI, EU Markit services PMI, retail sales, UK Markit services PMI.
Canada trade balance, exports, imports, and U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, trade balance, goods trade balance, Markit services PMI, ISM non-manufacturing PMI.

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

DAILY MARKET OUTLOOK on Major
Update Time: 06 Aug 2018 9:30 GMT

USD/JPY - 111.22
Despite last week's rally to 112.15 on Wednesday, subsequent sharp retreat to 111.10 on Friday due to active risk-aversion on increased U.S.-China trade tension suggests correction from July's low at 110.59 has ended there and consolidation with downside bias remains, below 110.76 would confirm this view and yield re-test of said support later, break would extend decline from July's 6-month peak at 113.17 to 110.28.

On the upside, only above 111.88 would indicate said pullback is over instead and risk gain towards 112.15, break would yield stronger retracement to 112.40/50.

Data to be released today:
Germany industrial orders, UK Halifax house prices, and EU Sentix index.

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

DAILY MARKET OUTLOOK on Major
Update Time: 08 Aug 2018 09:30 GMT

USD/JPY - 110.96
The greenback's intra-day selloff on broad-based buying of yen and subsequent break of last Friday's low at 111.10 suggests early correction from 110.59 has ended at 112.15 last Monday and consolidation with downside bias remains for decline from July's 6-month peak at 113.17 to resume and yield re-test of said support, break would extend towards 110.28/30 later but loss of momentum would keep price above 109.90/00.

On the upside, only above 111.47/53 would indicate a temporary low has been made instead and risk would increase for a stronger retracement towards 111.88/90.

Data to be released on Wednesday :
Japan current account, trade balance, eco watchers current, eco watchers outlook, Australia Westpac consumer sentiment, China exports, imports, trade balance, U.S. MBA mortgage applications, and Canada building permits.

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

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

USD/JPY - 111.08
The greenback's intra-day selloff on broad-based buying of yen and subsequent break yesterday's low at 110.84 suggests early correction from 110.59 has ended at 112.15 last Monday and consolidation with downside bias remains for decline from July's 6-month peak at 113.17 to resume and yield re-test of said support, break would extend towards 110.28/30 later but loss of momentum would keep price above 109.90/00.

On the upside, only above 111.47/53 would indicate a temporary low has been made instead and risk would increase for a stronger retracement towards 111.88/90.

Data to be released on Thursday :
New Zealand RBNZ interest rate decision, UK RICS housing price balance, NIESR GDP estimate, Japan machinery orders, machine tool orders, China PPI, CPI, Swiss unemployment rate, Canada housing starts, new housing price index, and U.S. initial jobless claims, PPI, core PPI, wholesale inventories, wholesale sales.

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

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

USD/JPY - 110.21
Although the greenback opened lower and dropped to 110.36 in New Zealand on risk aversion, price staged a rebound to 110.75 in Australia on liquidity boost by the Turkish central bank.
However, renewed selling there knocked price lower and dollar tumbled to a session low at 110.11 in Asian on continued concerns over the Turkish lira before stabilising.

On the upside, only above 110.75 would indicate decline from July's fresh 6-month peak at 113.17 has made a temporary low there and risk would increase for a much-needed correction to 111.19/20, then 111.47.

Data to be released:
France non-farm payrolls, and Italy CPI, CPI (EU norm) on Monday.

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

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

USD/JPY - 111.02
Despite the greenback's fall to 110.11 yesterday, subsequent rally to 111.14 today on easing of contagion fears from Turkish lira crisis suggests decline from July's 6-month peak at 113.17 has ended there and choppy trading with upside bias would be seen for gain towards 111.47/50.
However, loss of momentum would keep price below 111.88/90 and yield retreat later this week.

On the downside, only below 110.52 would indicate said recovery has ended instead and turn outlook bearish for a re-test of aforesaid support.

Data to be released on Tuesday :
Japan industrial output, capacity utilization, France ILO unemployment rate, Germany GDP, CPI, HICP, France CPI, CPI (EU norm), ZEW economic sentiment, ZEW current conditions, Swiss producer/import price, UK claimant count, ILO unemployment rate, employment change, average weekly earnings, EU GDP, industrial production, ZEW economic sentiment.
U.S. import prices, export prices, Redbook sales.

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AceTraderFx Aug 17: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 17 Aug 2018 05:30 GMT

USD/JPY - 110.71
The greenback's retreat from Wednesday's high at 111.43 to 110.43 the same day and subsequent weakness suggests correction from Monday's 6-week trough at 110.12 has ended there and consolidation with downside bias remains, however, below 110.43 is needed to revive bearishness for a re-test of said support, break would extend decline from July's 6-month peak at 113.17 towards 109.88/90 later.

On the upside, only above 111.12 would indicate pullback from 111.43 has ended and bring gain towards said resistance, break would yield stronger retracement of aforesaid decline towards 111.88/90.

U.S. will release July leading indicators and University of Michigan August consumer confidence at 14:00GMT later today.

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

DAILY MARKET OUTLOOK on Major
Update Time: 20 Aug 2018 09:30 GMT

USD/JPY - 110.63
The greenback's break of previous support at 110.43 to 110.32 on Friday suggests correction from August's 6-week trough at 110.11 has ended at 111.43 last Wednesday and consolidation with downside bias would be seen for decline from July's 6-month peak at 113.17 to resume and yield re-test of aforesaid support, break would extend towards 109.88/90, however, over sold condition would keep price above 109.50/60.

On the upside, only above 111.43 would revive bullishness for a stronger retracement towards 111.70/80 before prospect of retreat.

Data to release today :
UK Rightmove house price, Germany producer prices, and EU construction output.

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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 Aug 22: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
22 Aug 2018 03:00GMT

USD/JPY - 110.33.. Dlr pared initial losses in Asian morning after falling from Tuesday's New York high of 110.55 to 110.03 at Asian open today.

The pair came under selling pressure in New York afternoon due to safe-haven yen buying on Reuters news report that an attorney for Michael Cohen, Trump's former personal lawyer who pleaded guilty in New York on Tuesday to campaign finance violations and other charges, said Trump directed Cohen to commit a crime.
However, renewed buying interest above 110.00 emerged and lifted the greenback, suggesting range trading would be seen ahead of European open.
Offers are tipped at 110.45/55 with stops above there, bids are noted at 110.05-00 with stops below there, more stops are reported below 109.75.

On the data front, U.S. will release MBA mortgage applications, existing home sales.
Key event to watch for is the start of a 2-day U.S./China trade talks in Washington and then last but not least, release of FOMC minutes at 18:00GMT, however, market is keenly awaiting Fed Chairman J. Powell's speech at Jackson Hole on Friday.

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