AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

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DAILY MARKET OUTLOOK on Major

Update Time: 26 Nov 2021 09:30GMT

USD/JPY - 114.08
Despite the greenback's rise to a fresh 3-year peak at 115.51 on Wednesday, intra-day selloff on active safe-haven buying in jpy due to renewed Covid variant concerns suggests MT uptrend has made a temporary top there and consolidation with downside bias remains for weakness to 113.40/50 would be seen after consolidation, however, oversold condition would keep price above 113.00.

On the upside, only above 115.03 would indicate aforesaid pullback has ended instead and risk stronger gain to 115.51 again.

Data to be released on Friday:
Japan Tokyo CPI, Australia retail sales.
Swiss non-farm payrolls, GDP, France consumer confidence, Italy business confidence, consumer confidence.
Canada budget balance.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 29 Nov 2021 09:30GMT

USD/JPY - 113.33
Despite the greenback's rise to a fresh 3-year peak at 115.51 on Wednesday, intra-day selloff on active safe-haven buying in jpy due to renewed Covid variant concerns suggests MT uptrend has made a temporary top there and consolidation with downside bias remains for weakness to 113.40/50 would be seen after consolidation, however, oversold condition would keep price above 113.00.

On the upside, only above 115.03 would indicate aforesaid pullback has ended instead and risk stronger gain to 115.51 again.

Data to be today:
Japan retail sales, Australia business inventories.
Italy producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, Swiss current account, producer prices.
US pending home sales and Dallas Fed manufacturing business index on Monday.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 30 Nov 2021 09:30GMT

USD/JPY - 112.73
Despite the greenback's rise to a fresh 3-year peak at 115.51 last Wednesday, subsequent selloff to 113.00 Monday and intra-day break below there on active safe-haven buying in jpy due to renewed Covid variant concerns suggests Medium Term uptrend has made a temporary top there and consolidation with downside bias remains for weakness to 112.60/70, however, oversold condition would keep price above 112.30/40.

On the upside, only above 115.03 would indicate aforesaid pullback has ended instead and risk stronger gain to 115.51 again.

U.S. will release a slew of eco. data n we also have a number of Fed officials scheduled to speak in New York session, please refer to our EI page for details.
Pay attention to release of Chicago PMI n consumer confidence. Fed chair Powell and Treasury Secretary Yellen testify before a Senate Banking Committee hybrid hearing at 15:00GMT.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 01 Dec 2021 09:30GMT

USD/JPY - 113.40
Despite the greenback's rise to a fresh 3-year peak at 115.51 last Wednesday, subsequent selloff to 113.00 Monday and intra-day break below there on active safe-haven buying in jpy due to renewed Covid variant concerns suggests MT uptrend has made a temporary top there and consolidation with downside bias remains for weakness to 112.60/70, however, oversold condition would keep price above 112.30/40.

On the upside, only above 115.03 would indicate aforesaid pullback has ended instead and risk stronger gain to 115.51 again.

The U.S. will release a slew of eco. data, please refer to our EI page for details and pay attention to market-moving ADP private payrolls, then Market mfg PMI, ISM mfg index n last but not least Fed's beige book.
Fed J. Powell will tesitfy again at Capital Hill but market reaction to more of his hawkish remarks is likely to much smaller after Tue's move.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 02 Dec 2021 09:30GMT

USD/JPY - 113.20
Despite the greenback's rise to a fresh 3-year peak at 115.51 last Wednesday, subsequent selloff to 113.00 Monday and intra-day break below there on active safe-haven buying in jpy due to renewed Covid variant concerns suggests Medium Term uptrend has made a temporary top there and consolidation with downside bias remains for weakness to 112.60/70, however, oversold condition would keep price above 112.30/40.

On the upside, only above 115.03 would indicate aforesaid pullback has ended instead and risk stronger gain to 115.51 again.

Market is keenly awaiting release of key U.S. jobs report on Fri n today, the only data due out are weekly jobless claims and continued jobless claims. We also have a number of Fed officials scheduled to speak, please refer to our EI page for details.
After Fed chair J. Powell's 2 consecutive days of testimonies on Capital Hill n his official removal on Fed's perception of U.S. inflation is no longer 'transitory', traders are unlikely to react to comments by other FOMC members.

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AceTraderFx Dec 03: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 03 Dec 2021 09:30GMT

USD/JPY - 113.42
Despite the greenback's rise to a fresh 3-year peak at 115.51 last Wednesday, subsequent selloff to 113.00 Monday and intra-day break below there on active safe-haven buying in jpy due to renewed Covid variant concerns suggests MT uptrend has made a temporary top there and consolidation with downside bias remains for weakness to 112.60/70, however, oversold condition would keep price above 112.30/40.

On the upside, only above 115.03 would indicate aforesaid pullback has ended instead and risk stronger gain to 115.51 again.

Data to be released on Friday:
Australia AIG construction index, services PMI, Japan services PMI, China caixin services PMI,
France budget balance, industrial output, 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, durables ex-defense, durable goods, factory orders, durables ex-transport, ISM non-manufacturing PMI, Canada employment change, unemployment rate and labor productivity rate.

AceTrader - Best Intra-day Forex Trading Strategies
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AceTraderFx Dec 06: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 06 Dec 2021 09:30GMT

USD/JPY - 113.17
Despite the greenback's rise to a fresh 3-year peak at 115.51 last Wednesday, subsequent selloff to 113.00 Monday and intra-day break below there on active safe-haven buying in jpy due to renewed Covid variant concerns suggests Medium Term uptrend has made a temporary top there and consolidation with downside bias remains for weakness to 112.60/70, however, oversold condition would keep price above 112.30/40.

On the upside, only above 115.03 would indicate aforesaid pullback has ended instead and risk stronger gain to 115.51 again.

Data to be released today:
Germany industrial orders, Italy retail sales, EU Sentix index and U.K. Markit construction PMI on Monday.

AceTrader - Best Intra-day Forex Trading Strategies
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AceTraderFx Dec 07: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 07 Dec 2021 09:30GMT

USD/JPY - 113.67
Despite the greenback's rise to a fresh 3-year peak at 115.51 last Wednesday, subsequent selloff to 113.00 Monday and intra-day break below there on active safe-haven buying in jpy due to renewed Covid variant concerns suggests Medium Term uptrend has made a temporary top there and consolidation with downside bias remains for weakness to 112.60/70, however, oversold condition would keep price above 112.30/40.

On the upside, only above 115.03 would indicate aforesaid pullback has ended instead and risk stronger gain to 115.51 again.

U.S. will later release a slew of eco. data which are unlikely to move the market as focus is on U.S. stocks n treasury yields, pls refer to our EI page for details.

AceTrader - Best Intra-day Forex Trading Strategies
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AceTraderFx Dec 08: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 08 Dec 2021 09:30GMT

USD/JPY - 113.45
The greenback's rise to 113.77 on Tuesday due to a rally in U.S. stocks and Treasury yields suggests the 1st leg of correction from November's fresh 3-year peak at 115.51 has ended at 112.54 last Tuesday and intra-day weakness would yield consolidation before prospect of another rise towards 114.20, however, near term loss of momentum would keep price below 114.50/60 and yield retreat.

On the downside, only below 113.08/10 would indicate aforesaid recovery has ended instead and risk stronger weakness to 112.70/80.

On the data front, U.S. will later release second-tier eco. data starting with MBA mortgage applications n then JOLTS job openings.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 09 Dec 2021 09:30GMT

USD/JPY - 113.45
The greenback's rise to 113.77 on Tuesday due to a rally in U.S. stocks and Treasury yields suggests the 1st leg of correction from November's fresh 3-year peak at 115.51 has ended at 112.54 last Tuesday and intra-day weakness would yield consolidation before prospect of another rise towards 114.20, however, near term loss of momentum would keep price below 114.50/60 and yield retreat.

On the downside, only below 113.08/10 would indicate aforesaid recovery has ended instead and risk stronger weakness to 112.70/80.

On the eco. data front, U.S. will release initial jobless claims, continued jobless claims, wholesale inventories n sales.

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
 
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