AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 23 Mar 2021 09:30GMT

USD/JPY - 108.75
The greenback's gap-down open to 108.53 in New Zealand yesterday on risk-averse buying in jpy due to a selloff in Turkish lira suggests recent upmove has made a temporary top at March's 9-month peak at 109.36 last week and consolidation with downside bias remains for stronger retracement to 108.35, however, support at 108.10 should remain intact and yield rebound later.

On the upside, only above 109.12 would indicate aforesaid correction has ended instead and risk re-test of said resistance later this week.

Data to be released on Tuesday :
New Zealand Westpac consumer survey.
U.K. claimant count, ILO unemployment rate, employment change, average weekly earnings, CBI trends orders, Italy industrial order, industrial sales.
U.S. building permits R, current account, redbook, new home sales, Richmond Fed manufacturing.

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[acetraderfx]

AceTraderFx Mar 24: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 24 Mar 2021 09:30GMT

USD/JPY - 108.66
The greenback's gap-down open to 108.53 in New Zealand on Monday on risk-averse buying in jpy due to a selloff in Turkish lira and then fall to 108.41 yesterday suggests recent upmove has made a temporary top at March's 9-month peak at 109.36 last week and consolidation with downside bias remains for stronger retracement to 108.35, however, support at 108.10 should remain intact and yield rebound later.

On the upside, only above 109.12 would indicate aforesaid correction has ended instead and risk re-test of said resistance later this week.

Data to be released on Wednesday :
New Zealand trade balance, exports, imports, Japan BoJ Mon. Pol. Meeting Minutes, Jibun Banking Mfg PMI, CPI, RPI, PPI input prices, PPI output prices.
EU markit manufacturing PMI, markit services PMI, consumer confidence, France consumer spending, markit manufacturing PMI, markit services PMI, Germany markit manufacturing PMI, markit services PMI, U.K. markit manufacturing PMI, markit services PMI, DCLG house price index.
U.S. MBA mortgage app, durable goods, durables ex-transport, durables ex-defence, markit manufacturing PMI, markit services PMI.

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[ForexWarrior2020]

Im going to be looking out for UJ and seeing how today ends. Im hoping to get in on the 4H maybe tomorrow until end of next week

 

[acetraderfx]

AceTraderFx Mar 25: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 25 Mar 2021 09:30GMT

USD/JPY - 109.10
Despite the greenback's fall to 108.41 on Tuesday, subsequent strong rebound to 108.95 yesterday on usd's strength due to jump in U.S. yields and intra-day break above there suggests correction from March's 9-month bottom at 109.36 has ended there and consolidation with upside bias would be seen, however, aforesaid top may hold on first testing and yield retreat later today.

On the downside, only below 108.67 would dampen daily bullishness and risk weakness to 108.35/41 later.

Data to be released on Thursday :
Germany GfK consumer sentiment, France business climate, Swiss SNB interest rate decision, Italy trade balance non-EU,U.S. initial jobless claims, cont. jobless claims, GDP final, GDP deflator final, PCE prices final, PCE prices final, KC Fed manufacturing.

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[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Mar 2021 09:30GMT

USD/JPY - 109.45
Dollar's intra-day break of previous March's 9-month high at 109.36 confirms upmove from January's 9-1/2 month trough at 102.60 has once again resumed and gain to 109.80/84 would be seen after consolidation, however, loss of moment should cap price below 110.00 today.

On the downside, only below 108.95 indicates temporary top is in place and risks weakness to 108.67, break, 108.41/46.

Data to be released on Friday :
Japan Tokyo CPI.
U.K. retail sales, retail sales ex-fuel, Germany Ifo business climate, Ifo current conditions, Ifo expectations, Italy business confidence, consumer confidence.
U.S. trade balance, wholesale inventories, personal income, personal spending, PCE price index, U. Mich. sentiment, Canada budget balance.

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[acetraderfx]

AceTraderFx Mar 29: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 29 Mar 2021 09:30GMT

USD/JPY - 109.66
Although price has retreated after dollar's resumption of upmove from January's 9-1/2 month bottom at 102.60 to a fresh 9-month peak at 109.84 and minor consolidation would be seen before said uptrend heads to 110.10/15 later today, loss of momentum would prevent sharp move beyond and reckon 110.47/50 would limit upside and yield correction.

On the downside, only below 109.14 would indicate a temporary top has been made and risk stronger retracement to 108.67/70 before prospect of rebound.

U.S. eco. calendar is very thin today with Dallas Fed mfg business index for Mar being the only data due out at 15:30GMT.

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[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 30 Mar 2021 09:30GMT

USD/JPY - 110.24
The greenback's intra-day rise above last Friday's 9-month peak at 109.84 on usd's continued strength suggests MT upmove from January's 9-1/2 month bottom at 102.60 remains in progress and further gain to 110.70 would be seen after consolidation, however, over bought condition would keep price below psychological handle at 111.00 and bring a much-needed correction.

On the downside, only a daily close below 109.38 would indicate at temporary top has been made and risk stronger retracement to 108.95/00.

Later today, U.S. will release a slew of eco. data including consumer confidence (please refer to our EI page for details).
We also have several Fed officials scheduled to speak in New York morning and afternoon sessions.

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[acetraderfx]

AceTraderFx Mar 31: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 31 Mar 2021 09:30GMT

USD/JPY - 110.60
The greenback's intra-day rise above Tuesday's 1-year peak at 110.42 to 110.96 on usd's continued strength suggests Medium Term upmove from January's 9-1/2 month bottom at 102.60 remains in progress and further gain to 111.15/20 would be seen after consolidation, however, over bought condition would keep price below 111.40/50 and bring a much-needed correction.

On the downside, only a daily close below 109.38 would indicate at temporary top has been made and risk stronger retracement to 108.95/00.

Data to be released later :
Germany import prices, unemployment change, unemployment rate, U.K. GDP, nationwide house price, France consumer spending, CPI, producer prices, Swiss investor sentiment, EU HCIP, Italy CP.
U.S. MBA mortgage app, ADP employment change, Chicago PMI, pending home sales, Canada GDP, producer prices.

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[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 07 Apr 2021 09:30GMT

USD/JPY - 109.93
Although dollar's retreat in tandem with US Treasury yields from last Wednesday's 1-year peak at 110.96 to 109.59 today suggests upmove from January's 9-1/2 month 102.60 bottom has made a temporary top, reckon near term loss of momentum would keep price above support at 109.38 and yield a much-needed rebound later this week.

On the upside, only above Tuesday's high at 110.55 would indicate aforesaid pullback has ended instead and turn outlook bullish for a re-test of aforesaid peak.

On the calendar front, we have some Fed officials due to speak later in New York session, please refer to our EI page for more details. Also, FOMC meeting minutes will be released at 18:00 GMT.

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[acetraderfx]

AceTraderFx Apr 08: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 08 Apr 2021 09:30GMT

USD/JPY - 109.51
Although dollar's intra-day break below yesterday's low at 109.59 signals decline from March's 1-year peak at 110.96 remains in progress and marginal weakness from here is likely to be seen, reckon 109.30/35 would contain downside due to near term loss of momentum and bring a much-needed rebound later, above 109.95/00 would retain bullishness for gain to 110.15.

On the downside, only below 109.10/15 would risk one more fall to 108.90/95 before prospect of a rebound later.

On the data front, U.S. will release weekly jobless claims data with street forecast at 680k versus prior readings of 719k. We also have a few Fed officials due to speak with focus on Federal Reserve Chairman J. Powell scheduled to speak at 16:00 GMT in virtual International Monetary Fund Seminar.

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