AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

[acetraderfx]

AceTraderFx Sept 09: Daily Recommendations on Major – USD/JPY

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

USD/JPY - 105.92
Dollar's erratic fall from last Thursday's 106.55 high to 105.80 at European open today suggests recent upmove from 105.21 has ended there and consolidation with downside bias remains, below 105.60/61 would bring re-test of 105.21 but break needed to extend decline from August's 107.04 peak to 105.11, then 104.80/90.

On the upside, only above 106.38 would risk stronger gain to 106.50/55, but 106.70 may hold.

Data to be released later :
Swiss unemployment rate.
U.S. MBA mortgage applications, redbook, JOLTS job openings, and Canada housing starts, Bank of Canada interest rate decision.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Sept 10: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 10 Sept 2020 09:30GMT

USD/JPY - 106.05
Dollar's rally from yesterday's low at 106.80 (Europe) to 106.27 in New York on rebound in U.S. stocks and yields, then to 106.29 in Asia today suggests pullback from last Thursday's 106.55 high has possibly ended and intra-day retreat would bring choppy sideways swings before heading to 106.50/55, break would extend to 106.70/80 later.

On the downside, only below 105.80 risks stronger retracement to 105.60 but 105.35/40 may hold.

The U.S. will later release a slew of eco. data (see our EI page for details) and market focus is on the weekly jobless claims as well as continued jobless claims as weekly barometer on U.S. employment situation.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Sept 11: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 11 Sept 2020 09:30GMT

USD/JPY - 106.21
Despite dollar's selloff from last Thursday's 106.55 top to as low as 105.80 on Wednesday, subsequent rebound to 106.29 in Asia yesterday suggests pullback has possibly ended and as price has rebounded after retreat to 105.99, consolidation with upside bias remains for gain to 106.55, break would extend to 106.70/80.

On the downside, only below 105.80 would risk stronger retracement to 105.60 but 105.21 should remain intact.

Data to be released on Friday :
Germany CPI, HICP, wholesale price index, UK GDP, industrial output, manufacturing output, construction output, trade balance, NIESR GDP estimate.
Canada capacity utilization, and U.S. core CPI, CPI, real weekly earnings, Federal budget.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Sept 14: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 14 Sept 2020 05:30GMT

EUR/USD - 1.1849... The single currency traded with a firm bias in Europe on Friday and gained to 1.1874 before retreating to 1.1827 in New York afternoon on usd's rebound together with cross-selling of euro especially vs sterling. Price then recovered to 1.1850 in Asian morning today on usd's broad-based weakness.

Euro's retreat from Friday's high at 1.1874 to 1.1827 suggests further choppy trading below Thursday's high at 1.1917 would continue with downside bias and below support at 1.1811 would confirm recovery from last Wednesday's low at 1.1754 has ended there and extend to 1.1780/90. Offers are now seen at 1.1860/70 with stops building up above there whilst initial bids are noted at 1.1750/60.

Pay attention to EU industrial production at 09:00GMT. Street forecasts for mm and yy are 4.0% and -8.2% vs previous readings of 9.1% and -12.3% respectively.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Sept 14: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 14 Sept 2020 09:30GMT

USD/JPY - 105.98
Despite dollar's rebound from last Wednesday's 105.80 low to 106.29 on Thursday, intra-day retreat suggests further choppy trading inside recent 105.60-106.55 broad range would continue with downside bias, however, reckon 105.80 should contain weakness and yield another bounce, above 106.38 would head back to 106.55, then 106.70/80.

Only below 105.80 would risk stronger retracement to 105.60 but 105.30 would remain intact.

Data out today :
China house prices, Japan tertiary industry activity, industrial output, capital utilization.
UK Rightmove house price and EU industrial production on Monday.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Sept 15: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 15 Sept 2020 09:30GMT

USD/JPY - 105.74
Although yesterday's fall below last Wednesday's 105.80 low to 105.56 in New York due to weakness in U.S. Treasury yields suggests decline from September's 106.55 peak has resumed, loss of downward momentum should keep price above 105.21 and yield rebound.

On the upside, above 106.00/10 needed to head back to 106.26/29, then 106.50/55.

Data to be released on Tuesday :
UK claimant count, ILO unemployment rate, employment change, average weekly earnings, Swiss producer and import price index, France CPI (EU norm), CPI, Italy CPI, CPI (EU norm), Germany ZEW economic sentiment, ZEW current conditions, EU labour costs, ZEW survey expectations, Canada manufacturing sales.
U.S. NY Fed manufacturing index, import prices, export prices, redbook, industrial production, capacity utilization manufacturing output.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Sept 16: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 16 Sept 2020 09:30GMT

USD/JPY - 105.25
Dollar's erratic fall from September's 106.55 high suggests re-test of August's low at 105.11 would be seen after consolidation, break would extend decline from August's peak at 107.04 to 104.73/78, however, reckon July's 4-1/2 month trough at 104.19 should hold on first testing.

On the upside, only above 105.81 would risk gain back to 106.00/04 before prospect of retreat.

Data to be released on Wednesday :
UK core CPI, CPI, RPI, core RPI, PPI input prices, PPI output prices, core PPI output prices, DCLG house price index, EU trade balance.
U.S. MBA mortgage applications, retail sales ex-autos, retail sales, business inventories, NAHB housing market index, Fed interest rate decision, and Canada CPI, BoC core CPI, core CPI.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Sept 17: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 17 Sept 2020 09:30GMT

USD/JPY - 104.81
The greenback's fall to a 6-week trough at 104.81 in New York morning yesterday and intra-day break below this level to 104.70 signals erratic decline from August's peak at 107.04 remains in progress and further weakness to 104.59 would be seen after consolidation, however, loss of momentum would keep price above daily support at 104.19 and yield a much-needed rebound later.

On the upside, only above 105.17 would indicate a temporary low has been made and risk stronger retracement to 105.54/56 but resistance at 105.81 should hold.

Pay attention to U.S. jobless claims at 12:30GMT. Street forecast is for a decrease to 850k from previous reading of 884k.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Sept 18: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 18 Sept 2020 09:30GMT

USD/JPY - 104.60
Although dollar's rebound from yesterday's fresh 6-week low at 104.53 to 104.86 in Asia today suggests recent decline from August's high at 107.04 has made a temporary low, intra-day retreat signals recovery has ended and weakness to 104.30/35 would be seen after consolidation, however, reckon July's 104.19 trough should remain intact.

On the upside, only a firm break above 104.86/90 would risk stronger retracement to 105.17.

Pay attention to the release of U.S. Michigan consumer sentiment at 14:00GMT. Street forecast is for a slight uptick to 75.0 from previous reading of 74.1.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Sept 21: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 21 Sept 2020 09:30GMT

USD/JPY - 104.13
Dollar's intra-day break of August's 4-1/2 month low at 104.19 signals medium term decline from March's 111.71 peak has once again resumed and further weakness to 103.70/80 would be seen after consolidation, however, 'loss of momentum' should keep price above 103.55/60 today.

On the upside, only daily close above 104.63 indicates temporary bottom made, risks retracement to 104.86, break, 105.00/05.

Data to be released today :
UK Rightmove house price.
U.S. national activity index and Canada new housing index on Monday.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates