AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

AceTraderFx Aug 27: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 27 Aug 2021 09:30GMT

USD/JPY - 110.13
The greenback's rally from Tuesday's low at 109.42 to 110.12 yesterday and yesterday's break above there in tandem with rising U.S. yields and cross-selling in jpy suggests further choppy trading above last Tuesday's low at 109.12 would continue with upside bias and above reaction high at 110.22 would bring stronger retracement of near term decline from 110.79 (Aug) towards 110.54.

On the downside, only below 109.88 would indicate aforesaid recovery has ended instead and risk weakness to 109.63/66, then 109.42.

Data to be released on Friday:
Japan Tokyo CPI, Australia retail sales.
France consumer confidence, Italy business confidence, consumer confidence.
U.S. personal income, personal spending, Core PCE price index, PC price index, goods trade balance, wholesale inventories, University of Michigan sentiment, Canada producer prices and budget balance.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 30 Aug 2021 09:30GMT

USD/JPY - 109.82
The greenback's rally from Tuesday's low at 109.42 to 110.12 yesterday and yesterday's break above there in tandem with rising U.S. yields and cross-selling in jpy suggests further choppy trading above last Tuesday's low at 109.12 would continue with upside bias and above reaction high at 110.22 would bring stronger retracement of near term decline from 110.79 (Aug) towards 110.54.

On the downside, only below 109.88 would indicate aforesaid recovery has ended instead and risk weakness to 109.63/66, then 109.42.

Data to be released later:
Japan retail sales, Australia business inventories.
Swiss KOF indicator, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI.
Canada current account, U.S. pending home sales and Dallas Fed business index on Monday.

AceTrader - Best Intra-day Forex Trading Strategies
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AceTraderFx Aug 31: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 31 Aug 2021 09:30GMT

USD/JPY - 109.86
The greenback's rally from Tuesday's low at 109.42 to 110.12 yesterday and yesterday's break above there in tandem with rising U.S. yields and cross-selling in jpy suggests further choppy trading above last Tuesday's low at 109.12 would continue with upside bias and above reaction high at 110.22 would bring stronger retracement of near term decline from 110.79 (August) towards 110.54.

On the downside, only below 109.88 would indicate aforesaid recovery has ended instead and risk weakness to 109.63/66, then 109.42.

U.S. will release a slew of eco. data later today, please refer to our EI page for details and pay attention to Chicago PMI at 13:45GMT and then Conference Board consumer confidence at 14:00GMT, market forecast for both data is a lower reading, so if actual data come in as per street estimate or weaker, then one can expect more usd's weakness.

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AceTraderFx Sept 01: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 01 Sept 2021 09:30GMT

USD/JPY - 110.35
The greenback's rally from Tuesday's low at 109.42 to 110.12 yesterday and yesterday's break above there in tandem with rising U.S. yields and cross-selling in jpy suggests further choppy trading above last Tuesday's low at 109.12 would continue with upside bias and above reaction high at 110.22 would bring stronger retracement of near term decline from 110.79 (Aug) towards 110.54.

On the downside, only below 109.88 would indicate aforesaid recovery has ended instead and risk weakness to 109.63/66, then 109.42.

U.S. will release a slew of eco. data, pls refer to our EI page for details n pay attention to ADP private payrolls, then Markit mfg PMI n later ISM mfg PMI. Atlanta Fed President Bostic (voter) will speak at a virtual event at 16:00GMT.

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AceTraderFx Sept 02: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 02 Sept 2021 09:30GMT

USD/JPY - 110.00
Despite the greenback's gain to 110.41 in Europe yesterday, subsequent selloff to 109.89 in New York following the release of poor U.S. private payrolls suggests recent upmove from 109.12 has made a temporary top there and consolidation with downside bias remains for weakness to 109.60, then 109.42. However, said bottom should hold on 1st testing and yield a much-needed recovery later.

On the upside, only above 110.41 would revive bullishness for a re-test of August's peak at 110.79, break needed to extend uptrend from 108.73 (August) towards 110.90/00 later.

Ahead of Fri's blockbuster U.S. NFP, U.S. will release a slew of eco. data, pls refer to our EI page for details, pay attention to weekly jobless claims, continued jobless claims, then durable goods n factory orders.
We also have Atlanta Fed President Bostic n S. Francisco Fed's Daly (both 2021 FOMC voters) speaking at 17:00GMT n 19:00GMT respectively.

AceTrader - Best Intra-day Forex Trading Strategies
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AceTraderFx Sept 03: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 03 Sept 2021 09:30GMT

USD/JPY - 109.95
Despite the greenback's gain to 110.41 in Europe on Wednesday, subsequent selloff to 109.89 in New York following the release of poor U.S. private payrolls and then to 109.80 today on news of Japan PM stepping down suggests recent upmove from 109.12 has made a temporary top there and consolidation with downside bias remains for weakness to 109.60, then 109.42. However, said bottom should hold on 1st testing and yield a much-needed recovery later.

On the upside, only above 110.41 would revive bullishness for a re-test of August's peak at 110.79, break needed to extend uptrend from 108.73 (August) towards 110.90/00 later.

Data to be released on Friday:
Australia AIG construction index, services, PMI, Kapan services PMI, China caixin services PMI.
France budget balance, Markit services PMI, Italy Markit services PMI, Germany Markit services PMI, EU Markit services PMI, retail sales, U.K. Markit services PMI.
U.S. Non-Farm Payrolls, private payrolls, unemployment rate, average earnings, Markit services PMI, ISM non-manufacturing PMI and Canada labor productivity.

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AceTraderFx Sept 06: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 06 Sept 2021 09:30GMT

USD/JPY - 109.89
Despite the greenback's gain to 110.41 last Wednesday, subsequent selloff to 109.60 in New York on Friday following the release of poor U.S. non-farm payrolls suggests recent upmove from 109.12 has made a temporary top there and consolidation with downside bias remains for weakness to 109.42. However, said bottom should hold on 1st testing and yield a much-needed recovery later.

On the upside, only above 110.41 would revive bullishness for a re-test of August's peak at 110.79, break needed to extend uptrend from 108.73 (August) towards 110.90/00 later.

Data to be released this week :
Germany industrial orders, U.K. Markit construction PMI, EU Sentix index on Monday.
Markets in U.S. and Canada are closed for holiday.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 07 Sept 2021 09:30GMT

USD/JPY - 109.97
Despite the greenback's gain to 110.41 last Wednesday, subsequent selloff to 109.60 in New York on Friday following the release of poor U.S. non-farm payrolls suggests recent upmove from 109.12 has made a temporary top there and consolidation with downside bias remains for weakness to 109.42. However, said bottom should hold on 1st testing and yield a much-needed recovery later.

On the upside, only above 110.41 would revive bullishness for a re-test of August's peak at 110.79, break needed to extend uptrend from 108.73 (August) towards 110.90/00 later.

Although U.S. markets will re-open after Mon's Labor Day holiday, as no eco. data is due out, traders may take cue to movement in U.S. stocks and U.S. yields.

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 update
 
AceTraderFx Sept 08: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 08 Sept 2021 09:30GMT

USD/JPY - 110.15
Despite the greenback's gain to 110.41 last Wednesday, subsequent selloff to 109.60 in New York on Friday following the release of poor U.S. non-farm payrolls suggests recent upmove from 109.12 has made a temporary top there and consolidation with downside bias remains for weakness to 109.42. However, said bottom should hold on 1st testing and yield a much-needed recovery later.

On the upside, only above 110.41 would revive bullishness for a re-test of August's peak at 110.79, break needed to extend uptrend from 108.73 (August) towards 110.90/00 later.

On the data front, U.S. will release second-tier data, please refer to our EI page for details. New York fed President Williams (voter) will speak at 17:10GMT.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 09 Sept 2021 09:30GMT

USD/JPY - 109.91
Dollar's intra-day decline due to active safe-haven yen buying on continued weakness in global stocks suggests recent erratic rise has made a temporary top at Wednesday's 3-1/2 week peak at 110.44 and below 109.60 sup would bring further weakness towards 109.42, however, reckon 109.12 should remain intact.

On a daily close above 110.15 signals pullback is over, outlook would improve for re-test of 110.44, then gain towards August's peak at 110.79 later next week.

U.S. will later release weekly jobless claims and continued jobless claims.
Last but not least, we have an army of Fed officials (8 in total!) scheduled to speak ahead of next week's blackout ahead of September 21-22 FOMC meeting, please refer to our EI page for details.

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