AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

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

USD/JPY - 110.86
Although dollar's intra-day break of yesterday's high at 110.62 to 110.93 ahead of European open due to decline in Aussie suggests fall from July's 6-month high at 113.17 has made a temporary low at Tuesday's 7-week trough of 109.78 and consolidation with upside bias would be seen, overbought condition should cap price below 111.43 and yield retreat.

On the downside, below 110.22 would indicate recovery has ended instead, risk weakness towards 110.02/03, then 109.78 again.

Data out on Thursday:
Japan Nikkei manufacturing PMI, leading economic index, coincident index.
France business climate, Markit manufacturing PMI, Markit services PMI, Swiss industrial production, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, consumer confidence, UK CBI distributive trades.
U.S. building permits, initial jobless claims, monthly home price, Markit manufacturing PMI, Markit services PMI, new home sales, KC Fed manufacturing.

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AceTraderFx Aug 24: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 24 Aug 2018 10:00 GMT

USD/JPY - 111.43
Dollar's spectacular rally from Tuesday's 7-week low at 109.78 to 111.49 in Asia today on active yen-selling suggests recent decline from July's 6-month peak at 113.17 has made a temporary low and consolidation with upside bias remains for gain towards 111.88/96, but overbought condition should keep price below Aug's high at 112.15.

On the downside, only below 110.75/76 would indicate temporary top is made instead, risk weakness towards 110.50/55, then 110.20/25.

Data to be released on Friday :
Germany GDP, France consumer confidence, UK BBA mortgage approvals.
U.S. durable goods. The annual Federal Reserve conference in Jackson Hole, Wyoming.

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Jul 2018 09:30 GMT

USD/JPY - 111.17
The greenback's rally from last Tuesday's 7-week low at 109.78 to 111.49 Friday on active yen-selling suggests recent decline from July's 6-month peak at 113.17 has made a temporary low there and consolidation with upside bias remains for gain towards 111.88/96 but overbought condition should keep price below Aug's high at 112.15 and yield retreat later this week.

On the downside, only below 110.75/76 would indicate temporary top is made instead, risk weakness towards 110.50/55, then 110.20/25.

After Friday's blockbuster Fed's annual symposium in Jackson Hole, U.S. will later release Chicago Fed national activity index and then Dallas Fed mfg business index.

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AceTraderFx Jul 28: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 28 Jul 2018 09:30 GMT

USD/JPY - 111.12
Dollar's intra-day rise and then break of Monday's European high at 111.19 to 111.36 in Asia suggests pullback from last Friday's near 3-week peak at 111.49 has ended at 110.94 yesterday, subsequent retreat would yield consolidation before another rise and above 111.49 would extend gain towards 111.88, break, 112.15.

Below 110.92/94 would risk stronger retracement towards 110.76 but 110.50/55 would remain intact.

On the data front, the U.S. will release a slew of eco. data starting with wholesale inventories, goods trade balance, Redbook sales, CaeShiller home price, after release of these 2nd-tier data, we have Aug consumer confidence and then Richmond Fed August mfg index.

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AceTraderFx Aug 29: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 29 Aug 2018 09:30 GMT

USD/JPY - 111.17
Despite dollar's retreat from yesterday's high at 111.36 to 110.96 in New York, subsequent strong rebound due to upbeat U.S. consumer confidence and rising U.S. Treasury yields suggests pullback from last Friday's 2-1/2 week peak at 111.49 has ended at 110.94 on Monday and consolidation with upside bias is seen, above 111.49 would head to 112.00. However, 112.15 resistance should hold.

Only below 110.92/94 would indicate a temporary top has been made, risk stronger retracement towards 110.76 before prospect of rebound.

On the data front, U.S. will release MBA mortgage application, Q2 prelim. GDP, core PCE (pay attention to these 2 important data, if we have upside beat, then usd will continue its Tuesday's gain) n later pending home sales.

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AceTraderFx Aug 30: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 30 Aug 2018 10:00 GMT

USD/JPY - 111.68
Dollar's rally from 111.12 in Asia and subsequent break of last Friday's 111.49 high to near 4-week peak at 111.83 in New York yesterday due to rising U.S. Treasury yields suggests recent upmove from Aug's 7-week trough at 109.78 has resumed and as 111.52 (Asia) has contained intra-day pullback, bullishness is retained for gain towards 112.15, then 112.50/60 later.
However, daily resistance at 113.17 should remain intact and yield retreat later.

Only below 111.36 would indicate temporary top is made and risks stronger retracement towards 110.94/96.

U.S. will release a slew of eco. data starting with weekly jobless claims, July personal spending n income and important July PCE and core PCE, all due out at 12:30GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 03 Sept 2018 09:30 GMT

USD/JPY - 111.00
Although the greenback has recovered after last week's selloff from Wednesday's high at 111.83 to 110.69 Friday and minor consolidation is in store for 1-2 days, as said move signals recovery from August's trough at 109.78 has ended there, downside bias is retained and below 110.69 would bring further weakness towards 110.03. However, said low should hold on first testing and yield rebound.

On the upside, only above 111.49 would indicate the pullback from 111.83 has ended instead and risk would increase for a re-test of aforesaid resistance.

No U.S. eco. data is due out today as U.S. financial markets are closed for Labor Day holiday (so is Canada). BoJ's Kuroda will deliver a keynote speech at 05:40GMT at a symposium in Tokyo.

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

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

USD/JPY - 111.46
The greenback's intra-day rally on dollar's broad-based strength suggests the pullback from last Wednesday's high at 111.83 has ended at 110.69 last Friday and consolidation with upside bias remains for upmove from August's 4-month trough at 109.78 to resume and yield re-test of said resistance, break would extend towards 112.15/20 later before prospect of retreat later this week.

On the downside, only below 110.85 would indicate aforesaid recovery has ended instead and risk would increase for a re-test of 110.69, break yields retracement towards 110.32.

Data out later on Tuesday :
Swiss CPI, UK BRC retail sales, Markit construction PMI, EU producer prices.
Canada Markit Manufacturing PMI, and U.S. Markit Manufacturing PMI, construction spending, ISM manufacturing PMI

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

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

USD/JPY - 111.52
The greenback's intra-day rally on dollar's broad-based strength suggests the pullback from last Wednesday's high at 111.83 has ended at 110.69 last Friday and consolidation with upside bias remains for upmove from August's 4-month trough at 109.78 to resume and yield re-test of said resistance, break would extend towards 112.15/20 later before prospect of retreat later this week.

On the downside, only below 110.85 would indicate aforesaid recovery has ended instead and risk would increase for a re-test of 110.69, break yields retracement towards 110.32.

Data out later on Wednesday :
Italy Markit services PMI, France Markit services PMI, Germany Markit services PMI, EU Markit services PMI, retail sales, UK Markit services PMI.
U.S. MBA mortgage applications, trade balance, goods trade balance, redbook, ISM New York index, Canada trade balance, import, export, labor productivity rate.

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

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

USD/JPY - 110.69
Dollar's intra-day selloff yesterday on downbeat U.S. ADP data together with increase trade tensions and break of previous support at 110.69 to 110.53, then lower to 110.38 today suggests decline from last week's high at 111.83 to retrace upmove from August's trough at 109.78 has resumed and further weakness towards 110.20 would be seen but said low should remain intact ahead of today's NFP release.

On the upside, only above 110.94 would indicate a temporary low has been made and risk would increase for a stronger retracement towards 111.17/20.

Data to be released later:
Swiss unemployment rate, Germany industrial output, imports ,exports, trade balance, current account, France exports, imports, trade balance, industrial output, current account, UK, Halifax house prices, RICS housing price balance, Italy retail sales, EU GDP.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, and Canada employment change, unemployment rate, Ivey PMI.

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