AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Sept 2018 09:30 GMT

USD/JPY - 112.84
Although dollar's intra-day retreat from Asian fresh 2-month high at 113.03 due to cross unwinding in yen suggests temporary top has been made, as long as 112.44 holds, recent upmove should re-test key res at 113.17 (Jul peak), break would extend medium-term rise towards 113.75 target 'later' this week.

Below 112.44 would risk stronger retracement towards 112.05 but reckon 111.66 should remain intact.

Data out on Wednesday :
France consumer confidence, Swiss ZEW investor sentiment, UK BBA mortgage approvals, CBI distributive trades.
U.S. MBA mortgage application, building permits, new home sales, Fed's interest rate decision, Fed's monetary policy statement.

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Sept 2018 10:00 GMT

USD/JPY - 112.65
Despite the greenback's spike up to 113.13 in New York afternoon yesterday after the Federal Reserve's rate hike, subsequent selloff to 112.63 in Australia, then to 112.56 in Europe suggests recent upmove from August's low at 109.78 has made a temporary top there and choppy trading below June's 6-month peak at 113.17 would continue with downside bias, however, support at 112.28 should remain intact, yield rebound.

On the upside, only above 113.13 would revive bullishness for a re-test of 113.17, break would extend medium-term uptrend towards 113.39/40 later.

Data to be released later on Thursday :
Germany GfK consumer sentiment, CPI, HICP, Italy business confidence, consumer confidence, producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence.
Canada average weekly earnings, and U.S. durable goods, GDP, PCE, goods trade balance, wholesale inventories, initial jobless claims, pending home sales, KC Fed manufacturing.

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AceTraderFx Sept 28: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 28 Sept 2018 10:30 GMT

USD/JPY - 113.35
The greenback's rise yesterday above June's 6-month peak at 113.17 on dollar's broad-based strength to 113.47 in New York, then higher to a fresh near 9-month peak at 113.64 in Asia suggests medium-term uptrend remains in progress and subsequent retreat would yield minor consolidation before prospect of another rise.
However, over bought condition would keep price below 113.90/00, yield correction early next week.

On the downside, only below 112.90 would indicate a temporary top has been made and risk stronger retracement towards 112.56 before prospect of a rebound.

Data out later on Friday :
UK GfK consumer confidence, GDP, current account, Germany import price index, unemployment change, unemployment rate, France consumer spending, CPI, producer prices, Swiss KOF indicator, Italy CPI, EU HICP, Canada GDP, producer prices, budget balance.
U.S. personal income, personal spending, PCE, Chicago PMI, University of Michigan sentiment.

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

DAILY MARKET OUTLOOK on Major
Update Time: 02 Oct 2018 09:30 GMT

USD/JPY - 113.82
The greenback's rise above last Friday's high at 113.67 to a fresh 10-1/2-month peak at 114.06 on dollar's broad-based strength, then higher in Europe suggests medium-term uptrend remains in progress and further gain towards 114.20/25 would be seen after consolidation.
However, over bought condition would keep price below 114.50/53, yield correction later this week.

On the downside, only below 112.90 would indicate a temporary top has been made and risk stronger retracement towards 112.56 before prospect of a rebound.

Data being to release later on Tuesday:
UK Markit construction PMI, EU producer prices, and U.S. Redbook, ISM New York Index.

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

DAILY MARKET OUTLOOK on Major
Update Time: 03 Oct 2018 09:30 GMT

USD/JPY - 113.89
The greenback's rise above last Friday's high at 113.67 to a fresh 10-1/2-month peak at 114.06 on Monday on dollar's broad-based strength suggests medium-term uptrend remains in progress and further gain towards 114.20/25 would be seen after consolidation.
However, over bought condition would keep price below 114.50/53, yield correction later this week.

On the downside, only below 112.90 would indicate a temporary top has been made and risk stronger retracement towards 112.56 before prospect of a rebound.

Data due out later on Wednesday :
Germany market holiday, Markit services PMI, Italy Markit services PMI, France Markit services PMI, EU Markit services PMI, retail sales.
U.S. MBA mortgage application, ADP employment change, Markit services PMI, ISM non-manufacturing PMI.

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AceTraderFx Oct 04: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 04 Oct 2018 09:30 GMT

USD/JPY - 114.35
The greenback's rise above Monday's 10-1/2 month peak at 114.06 to 114.55 in Australia today on dollar's broad-based strength suggests medium-term uptrend remains in progress and further gain towards 114.70/74 would be seen after consolidation, however, over bought condition would keep price below 114.90/00, yield correction later this week.

On the downside, only below 112.90 would indicate a temporary top has been made and risk stronger retracement towards 112.56 before prospect of a rebound.

Ahead of Friday's key U.S. payrolls data, we have today weekly jobless claims, factory orders, durable goods. Also we have Fed Gov. Quarles speaking at 13:15GMT.

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AceTraderFx Oct 08: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 08 Oct 2018 09:30 GMT

USD/JPY - 113.74
Although dlr's rebound from Friday's post-NFP low at 113.56 suggests first leg of correction from last Thursday's near 11-month peak at 114.55 has ended, as 113.94 (Asia) has capped intra-day recovery, consolidation with downside bias is retained for stronger retracement to 113.32, loss of momentum should keep price above 113.17.

A daily close above 114.09 would signal pullback is over and would yield another rise back towards 114.55.

Data due out later today:
Swiss unemployment rate, Germany industrial output, EU sentix index, Canada and U.S. market holiday on Monday.

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AceTraderFx Oct 09: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 09 Oct 2018 10:00 GMT


USD/JPY - 113.19
Although the greenback has staged a recovery after yesterday's selloff to as low as 112.83 and minor consolidation would be seen, as said move signals recent upmove has made a temporary top at last Thursday's near 11-month peak at 114.55, downside bias is retained and below 112.83 would yield stronger retracement of medium-term rise towards 112.56/60.

On the upside, only above 113.69 (50% r) would indicate aforesaid correction has ended instead and turn outlook bullish for stronger gain towards 114.09/10.

On the data front, no important data is due out today except NFIB Nusiness Optimism index for small business, however, we have Dallas Fed President Kaplan speaking at 11:30GMT, Chicago Fed President Evans at 14:00GMT and then Philly Fed President Harker at 17:00GMT.

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AceTraderFx Oct 10: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 10 Oct 2018 09:30 GMT

USD/JPY - 113.09
Although the greenback has staged a recovery after Monday's selloff to as low as 112.83 and minor consolidation would be seen, as said move signals recent upmove has made a temporary top at last Thursday's near 11-month peak at 114.55, downside bias is retained and below 112.83 would yield stronger retracement of medium-term rise towards 112.56/60.

On the upside, only above 113.69 (50% r) would indicate aforesaid correction has ended instead and turn outlook bullish for stronger gain towards 114.09/10.

Data to be released on Wednesday :
France industrial output, Italy industrial output, UK GDP, industrial output, manufacturing output, construction output, trade balance, U.S. PPI, core PPI, redbook, wholesale inventories, wholesale sales and Canada building permits.

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AceTraderFx Oct 11: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 11 Oct 2018 09:30 GMT

USD/JPY - 112.27
Although price has recovered after intra-day resumption of decline from last week's near 11-month peak at 114.55 to 111.97 in Asia and minor consolidation would be seen ahead of U.S. inflation release in New York, reckon 112.83 (previous support, now resistance) would cap upside and yield another fall later, below 111.97 would extend to 111.66/70 before prospect of a correction due to loss of momentum.

On the upside, only above 112.83 would indicate a temporary low has been made and risk stronger retracement towards 113.39 before prospect of retreat.

Data to be released on Thursday :
UK RICS houseing price balance, Japan domestic CGPI, France CPI, U.S. initial jobless claims, CPI, core CPI, real weekly earnings, and Canada new housing price index.

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