AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

DAILY MARKET OUTLOOK on Major
Update Time: 20 Mar 2020 09:30GMT

USD/JPY - 109.60
Despite dollar's resumption of recent upmove from March's 39-month bottom at 101.19 to a 3-week high at 111.36 in Australia today, subsequent fall suggests temporary top is made and consolidation with mild downside bias would be seen, however, reckon 108.80/90 should hold, yield rebound.

On the upside, only above 110.05/10 would bring retracement to 110.50/60 before prospect of retreat.

In the absence of major U.S. economic data today, market focus will remain on the ongoing coronavirus pandemic related headlines and how global stocks react to the measures taken by several central banks to tackle the slowing global growth.

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

DAILY MARKET OUTLOOK on Major
Update Time: 23 Mar 2020 09:30GMT

USD/JPY - 110.09
Despite dollar's rally on Friday from 109.32 (Europe) and then break of Australian 111.36 high to a fresh 3-week high at 121.50 in New York, subsequent retreat to 109.67 at European open today suggests recent upmove from March's near 3-1/2 year bottom at 101.19 has made a temporary top and choppy sideways swings would be seen.

Present rebound may head to 110.85/90 before prospect of another fall but reckon 109.32 should remain intact.

Data to be released later:
Canada wholesale trade, U.S. national activity index and EU consumer confidence on Monday.

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Mar 2020 09:30GMT

USD/JPY - 110.32
Despite the greenback's rise to a 3-week peak at 111.71 Tuesday, subsequent sharp retreat to 110.76 and intra-day fall below this level suggests upmove from March's 3-1/2 year trough at 101.19 has made a temporary top there and consolidation with downside bias remains for stronger retracement to 110.09, then 109.67, however, over sold condition would keep price above 109.32 and yield rebound.

On the upside, only above 111.07 would indicate aforesaid correction has ended and risk re-test of 111.71 early next week, break, 112.22.

Data to be released on Thursday :
German GfK consumer sentiment, UK retail sales, retail sales ex-fuel, France business climate, Italy trade balance.
U.S. GDP, core PCE prices, PCE prices, trade balance, whoesales inventories, wholesale sales, initial jobless claims, KC Fed manufacturing index.

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Mar 2020 09:30GMT

USD/JPY - 108.94
Despite dollar's selloff below yesterday's 109.22 low to a 1-week 108.25 bottom in Asia today, subsequent rebound suggests decline from Tuesday's 1-month 111.71 peak has made a temporary trough there and minor consolidation would be seen before prospect of another fall to 107.67/75 but 107.26 should remain intact.

On the upside, only above 109.22 would risk stronger retreacement to 109.71, then 110.16.

Data to be released later:
UK nationwide house price index, France consumer confidence, Italy manufacturing business confidence, consumer confidence.
U.S. personal income, personal spending, core PCE price index, PCE price index, University of Michigan sentiment, and Canada average weekly earnings, budget balance.

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

DAILY MARKET OUTLOOK on Major

Update Time: 30 Mar 2020 09:30GMT

USD/JPY - 108.03
Despite dollar's selloff from last Tuesday's 1-month high at 111.71 to 107.13 in Asia today, subsequent rebound suggests temporary low is made and consolidation with upside bias remains for gain to 108.25, where break would extend to 109.06, then 109.71.

On the downside, only below 107.13 would revive bearishness for weakness to 106.86, then 106.45.

Data to be released later:
UK nationwide house price, Swiss KOF indicator, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP.
pending home index, pending sales, Dallas Fed manufacturing business index on Monday

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

DAILY MARKET OUTLOOK on Major
Update Time: 01 Apr 2020 09:30GMT

USD/JPY - 107.62
Despite dollar's strong bounce from Monday's 11-day low of 107.13 to 108.72 at Asian open yesterday, subsequent retreat to 107.26 today, then recovery to 107.94 would bring choppy sideways swings before decline from last Tuesday's 1-month peak at 111.71 resumes and extends to 106.76/80 before prospect of rebound.

On the upside, only above 107.94 would risk stronger retracement to 108.10, then possibly 108.60/70.

On the data front, U.S. will release MBA mortgage applications, Markit mfg n services PMIs n construction spending.

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

DAILY MARKET OUTLOOK on Major
Update Time: 02 Apr 2020 09:30GMT

USD/JPY - 107.37
Despite dollar's resumption of decline from last Tuesday's 1-month peak at 111.71 to a near 2-week bottom at 106.93 in New York yesterday, subsequent rebound to 107.56 in Asia today suggests temporary low is made and consolidation with upside bias would be seen for stronger retracement to 107.90/00 before prospect of another fall.

On the downside, below 106.93 would yield marginal decline to 106.65/70 but 106.45 should remain intact.

Data to be released on Thursday :
UK nationwide house price, Swiss CPI, EU producer prices.
U.S. trade balance, initial jobless claims, ISM New York index, durables ex-defence, durable goods, factory orders, durables ex-transportation, and Canada trade balance, exports, imports.

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

DAILY MARKET OUTLOOK on Major
Update Time: 03 Apr 2020 09:30GMT

USD/JPY - 108.17
Despite dollar's decline from last Tuesday's 1-month peak at 111.71 to retrace upmove from March's near 3-1/2 year bottom of 101.19 to 106.93 on Wednesday, subsequent erratic rise to 108.29 today suggests temporary low made and marginal gain to 108.67/72 is likely before prospect of retreat.

On the downside, below 107.56 needed to head to 106.93/03, where break would extend weakness to 106.76 but 106.45 should remain intact.

Data to be released later :
France budget balance, Markit services PMI, Italy Markit services PMI, Germany Markit services PMI, EU Markit services PMI, retail sales, UK Markit services PMI.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, Markit services PMI, ISM non-manufacturing PMI.

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

DAILY MARKET OUTLOOK on Major
Update Time: 06 Apr 2020 09:30GMT

USD/JPY - 109.09
The greenback's rally above last Thursday's high at 108.09 to 108.67 Friday, then higher to 109.37 today signals early decline from March's 1-month 111.71 peak has made a temporary bottom at Wednesday's trough at 106.93 and further gain to 109.71 is seen after consolidation, where break would extend to 110.04/09 before prospect of correction.

On the downside, only below 108.72 suggests temporary top made and risks weakness to 107.56, then 106.93.

On the data front, no eco. data is due out from the U.S. after last Fri's very downbeat jobs data with non-farm payroll showed -701k job losses in Mar n unemployment at 4.4% but market is bracing for a possible double digit number in Apr after taking into account of recent horrendous blowout numbers in weekly jobless claims.

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

DAILY MARKET OUTLOOK on Major
Update Time: 07 Apr 2020 09:30GMT

USD/JPY - 108.88
Although dollar's strong rebound from last Wednedsday's 106.93 low to 109.37 on Monday suggests recent decline from March's 1-month 111.71 peak has made a temporary bottom, intra-day retreat to 108.68 in Asia on usd's broad-based weakness would bring choppy sideways swings before prospect of another rise, however, reckon 109.67/70 should hold.

On the downside, only below 108.18/20 would risk stronger retracement towards 107.56.

Data to be released on Tuesday :
Germany industrial output, France current account, trade balance, imports, exports, Italy retail sales.
U.S. redbook, JOLTS job openings, and Canada Ivey PMI.

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