AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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AceTraderFx Nov 01: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 01 Nov 2018 09:30 GMT

USD/JPY - 112.84
Despite the greenback's selloff to a fresh 5-week trough at 111.38 last Friday, subsequent rally to 112.56 yesterday and intra-day break of this resistance suggests decline from October's near 11-month peak at 114.55 has made a temporary low there and choppy trading with upside bias would be seen for a stronger retracement.
However, 112.97 (50% r) should remain intact and yield retreat later.

On the downside, only below 112.19 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness towards 111.63/65.

Data to be released later on Thursday :
Swiss consumer confidence, CPI, manufacturing PMI, UK Markit manufacturing PMI, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPC vote cut, BoE interest rate decision, BoE QE total, BoE QE corporate bond purchases.
Canada Markit manufacturing PMI, and U.S. initial jobless claims, labor costs, productivity, Markit manufacturing PMI, construction spending, ISM manufacturing PMI.

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AceTraderFx Nov 05: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 05 Nov 2018 09:30 GMT

USD/JPY - 113.19
The greenback's rally to 113.31 last Friday and intra-day marginal break of this resistance to 113.34 suggests a re-test of last week's peak at 113.39 is forthcoming, break would signal upmove from October's 5-week trough at 111.38 to retrace decline from October's 11-month peak at 114.55 has resumed and extend towards 113.50/52 later but loss of momentum would keep price below 114.09 and yield retreat.

On the downside, only below 112.56 would indicate said correction has ended and turn outlook bearish for stronger weakness towards 112.19/20.

The N. American market has pushed their clock backward by an hour on Sun, so European traders can enjoy a longer lunch break. Today is PMI day, U.S. will release Markit services PMI n then ISN non-mfg PMI.

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AceTraderFx Nov 06: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 06 Nov 2018 10:00 GMT

USD/JPY - 113.28
The greenback's rally to 113.34 yesterday and intra-day marginal break of this resistance and last week's peak at 113.39 signal upmove from October's 5-week trough at 111.38 to retrace decline from October's 11-month peak at 114.55 has once again resumed and extend towards 113.75/80 later but loss of momentum would keep price below 114.09 and yield retreat.

On the downside, only below 112.56 would indicate said correction has ended and turn outlook bearish for stronger weakness towards 112.19/20.

Data to be released on Tuesday :
UK BRC retail sales, Germany industrial orders, Markit services PMI, Italy Markit services PMI, France Markit services PMI, EU Markit services PMI, producer prices.
Canada building permits, and U.S. redbook, JOLTS job openings.

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

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

USD/JPY - 113.70
Despite the greenback's selloff from yesterday's Asian high at 113.82 to 112.95 on dollar's broad-based weakness post US midterm election results, subsequent strong rebound suggests the pullback has ended and consolidation with upside bias remains for upmove from October's trough at 111.38 to resume and yield re-test of said resistance, break would extend towards 114.09/10 later but loss of momentum would keep price below daily resistance at 114.55.

On the downside, only below 112.95 would indicate a temporary top has been made and risk stronger retracement towards 112.73.

Data to be released on Thursday :
UK RICS housing price balance, China exports, imports, trade balance, Swiss unemployment rate, Germany imports, exports, trade balance, current account, France current account, trade balance, imports, exports, imports, trade balance.
Canada housing starts, and U.S. initial jobless claims, Fed interest rate decision.

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AceTraderFx Nov 12: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 12 Nov 2018 10:00 GMT

USD/JPY - 114.14
The greenback's intra-day rally and subsequent break of last Thursday's high at 114.09 signals recent erratic upmove from 111.38 has resumed and consolidation with upside bias remains for gain towards 114.40/45, however, near term loss of momentum would keep price below October's near 11-month peak at 114.55 and yield retreat later.

On the downside, only below 113.64 would indicate a temporary top has been made and risk stronger retracement towards 113.39 (previous resistance) but 112.95 should contain downside.

No U.S. eco. data is due out as U.S. markets are closed for Veterans Day holiday and markets in Canada are also closed for Remembrance Day holiday.
S. Francisco Fed President Daily will speak on the economic outlook before the Regional Economic Development for Eastern Idaho at 19:30GMT later today.

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AceTraderFx Nov 14: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 14 Nov 2018 09:30 GMT

USD/JPY - 113.87
The greenback's rally on Monday and subsequent break of last Thursday's high at 114.09 to 114.21 signals recent erratic upmove from 111.38 has resumed and subsequent retreat would yield consolidation before prospect of gain towards 114.40/45.
However, near term loss of momentum would keep price below October's near 11-month peak at 114.55 and yield retreat later.

On the downside, only below 113.64 would indicate a temporary top has been made and risk stronger retracement towards 113.39 (previous resistance) but 112.95 should contain downside.

Data to be released later on Wednesday :
Germany GDP, France CPI, UK CPI, RPI, PPI input prices, PPI output prices, EU GDP, industrial production, and U.S. MBA mortgage application, CPI, real weekly earnings, redbook.

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AceTraderFx Nov 15: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 15 Nov 2018 09:30 GMT

USD/JPY - 113.47
The greenback's selloff yesterday to 113.31 due to a drop in U.S. Treasury yields and equities suggests upmove from October's 1-month trough at 111.38 has made a temporary top at 114.21 on Monday and consolidation with downside bias remains for stronger retracement to 112.95.
However, near term loss of momentum would keep price above 112.56 and yield a rebound later today or tomorrow.

On the upside, only above 114.01 would revive bullishness for 114.21, break would yield a re-test of October's near 11-month peak at 114.55.

Data to be released on Thursday :
UK retail sales, EU trade balance, Canada AP employment change, and U.S. NY Fed manufacturing index, import prices, export prices, initial jobless claims, Philadelphia Fed survey, retail sales, business inventories.

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AceTraderFx Nov 19: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 19 Nov 2018 09:30 GMT

USD/JPY - 112.83
The greenback's selloff on Friday to 112.64, then 112.61 today due to a drop in U.S. Treasury yields and equities suggests upmove from October's 1-month trough at 111.38 has made a temporary top at 114.21 on Monday and consolidation with downside bias remains for stronger retracement to 112.55/56.
However, near term loss of momentum would keep price above 112.19 and yield a rebound later today or tomorrow.

On the upside, only above 114.01 would revive bullishness for 114.21, break would yield a re-test of October's near 11-month peak at 114.55.

On the data front, EU will release current account n construction production. Eurogroup will be meeting in Brussels today, ECB President Draghi n ECB Board Member Coeure will participate in the meeting. European Commissioner for Economic and Financial Affairs Moscovici will speak at 13:30GMT.

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AceTraderFx Nov 20: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 20 Nov 2018 09:30 GMT

Update Time: 20 Nov 2018 08:14 GMT
USD/JPY - 112.45
The greenback's fall to 112.40 in Australia today suggests decline from last Monday's 5-week peak at 114.21 to retrace upmove from October's trough at 111.38 remains in progress and further weakness towards 112.19 would be seen after consolidation, however, over sold condition would keep price above 111.92 and yield a correction later this week.

On the upside, only above 113.10 (previous support, now resistance) would indicate a temporary low has been made and risk stronger gain towards 113.52 but resistance at 113.70 should remain intact.

Data out on Tuesday :
France ILO unemployment rate, Germany producer prices, Swiss exports, imports, trade balance, UK CBI trends orders,.
U.S. building permits, housing starts, redbook.

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

 

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AceTraderFx Nov 21: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 21 Nov 2018 09:30 GMT

USD/JPY - 112.85
Despite the greenback's fall to 112.31 yesterday on broad-based buying of the yen, subsequent strong rebound suggests decline from last Monday's 5-week peak at 114.21 has made a temporary low there and consolidation with upside bias remains for stronger retracement, however, 113.26 (50% r) should remain intact and yield retreat later this week.

On the downside, only below 112.31 would revive bearishness for weakness towards 112.19 but near term loss of momentum would keep price above 111.92 and yield rebound.

Data to be released on Wednesday :
UK PSNB, PSNCR, Canada wholesale sales, and U.S. MBA mortgage application, durable goods, durables ex-transportation, durables ex-defense, initial jobless claims, existing home sales, leading indicator, University of Michigan sentiment.

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