AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

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DAILY MARKET OUTLOOK
Update Time: 10 May 2016 09:09 GMT

USD/JPY - 108.89
Despite last Tuesday's resumption of recent downtrend to a fresh 18-month trough at 105.55 in European session, subsequent strong rebound to 108.60 yesterday and intra-day breach of this level suggests a temporary bottom has been made and consolidation with upside bias would be seen for gain towards 109.10/20.
However, resistance at 109.46 would remain intact and bring another fall later.

On the downside, only below 106.13 would confirm aforesaid recovery has ended and turn outlook bearish for a re-test of 105.55, break would extend Medium Term downtrend to 105.05/10.

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

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DAILY MARKET OUTLOOK
Update Time: 12 May 2016 09:09 GMT

USD/JPY - 108.91
Despite last Tuesday's resumption of recent downtrend to a fresh 18-month trough at 105.55 in European session, subsequent strong rebound to 109.38 yesterday suggests a temporary bottom has been made and consolidation with upside bias would be seen for marginal gain towards 109.60.
However, resistance at 109.90 would remain intact and bring another fall later.

On the downside, only below 106.13 would confirm aforesaid recovery has ended and turn outlook bearish for a re-test of 105.55, break would extend Medium Term downtrend to 105.05/10.

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
 
AceTraderFx May 16: Daily Recommendations on Major - USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 16 May 2016 09:13 GMT

USD/JPY - 108.74
Despite last Friday's resumption of upmove from May's 18-month trough at 105.55 to 109.56 on the back of upbeat U.S. economic data, subsequent retreat to 108.47 today suggests a minor top has been made and consolidation with downside bias would be seen for weakness towards 108.23, then 108.03 (38.2% retracement).
However, support at 107.56 (50%) would remain intact and yield rebound later.

On the upside, only above 109.56 would revive bullishness for gain towards 109.90, then 110.03 (previous support, now resistance) before prospect of retreat.

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
 
AceTraderFx May 17: Daily Recommendations on Major - USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 17 May 2016 09:00 GMT


USD/JPY - 109.42
Despite last Friday's resumption of upmove from May's 18-month trough at 105.55 to 109.56 on the back of upbeat U.S. economic data, subsequent retreat to 108.47 yesterday suggests a minor top has been made and consolidation with downside bias would be seen for weakness towards 108.23, then 108.03 (38.2% retracement}.
However, support at 107.56 (50%) would remain intact and yield rebound later.

On the upside, only above 109.56 would revive bullishness for gain towards 109.90, then 110.03 (previous support, now resistance) before prospect of retreat.

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

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DAILY MARKET OUTLOOK
Update Time: 20 May 2016 09:00 GMT

USD/JPY - 110.30
Dollar's intra-day cross-inspired rebound suggests pullback from yesterday's 110.39 high has ended earlier at 109.70 in New York and recent upmove from May's fresh 18-month bottom at 105.55 would head to 110.77/82 after consolidation, however, 'loss of upward' momentum would cap price at 111.20/25 and bring a much-needed correction.

On the downside, below 109.70 would confirm temporary top is in place and yields retracement of aforesaid rise to 109.30, then 109.00/05.

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
 
AceTraderFx May 23: Daily Recommendations on Major - USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 23 May 2016 09:38 GMT

USD/JPY - 109.50
Dollar's intra-day decline in Asian and European morning due to broad-based buying of yen following warnings by U.S. Treasury Secretary against Japan's yen intervention to weaken the yen in the weekend's G7 meeting confirms recent upmove from May's fresh 18-month bottom at 105.55 has made a temporary last Friday at 110.59 and choppy consolidation with downside bias remains for weakness towards 108.72.
However, sup at 108.28 should hold from here.

Expect 110.08 (Friday's New York low, now res) to hold for this move and only a daily close above suggests correction is over but 110.59 should remain intact today.

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
 
AceTraderFx May 25 : Daily Recommendations on Major USD/JPY

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 25 May 2016 09:59 GMT

USD/JPY - 110.17
Yesterday's intra-day rally signals pullback from last Friday's high of 110.59 has ended at 109.11 on Monday and upside bias is seen for dollar's recent upmove from May's fresh 18-month bottom at 105.55 to resume and extend gain to 111.00 and later 111.50/60 before correction occurs due to 'loss of momentum.'

On the downside, only below 109.11 would indicate a temp. top has been made and yield retracement of aforesaid rise to next chart support at 108.72.

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
 
AceTraderFx May 26 : Daily Recommendations on Major USD/JPY

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 26 May 2016 10:12 GMT

USD/JPY - 109.98
Although dollar's rally from Monday's low at 109.11 to as high as 110.45 yesterday signals pullback from last Friday's high of 110.59 has ended there, intra-day selloff to 109.42 at Tokyo open suggests further choppy sideways trading would be seen before recent upmove from May's fresh 18-month bottom at 105.55 resumes to re-test said temporary top and then 111.50/60 later.

On the downside, only below 109.11 would indicate a temp. top has been made and yield retracement of aforesaid rise
to next chart support at 108.72.

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
 
AceTraderFx May 27 : Daily Recommendations on Major USD/JPY

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 27 May 2016 08:12 GMT

USD/JPY - 109.75
Despite dlr's erratic rise from 109.11 (Monday) to 110.45 (Wednesday), yesterday's selloff to 109.42 in Asia signals 'choppy' trading below last Fri's 3-wk peak at 110.59 would continue and below 109.11 would bring retrace. of early rise from 105.55 (May) towards 108.72.

Still favour trading from short side and only above 110.59 extends upmove from 105.55 to 111.10/20 later.

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
 
AceTraderFx May 31 : Daily Recommendations on Major

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 31 May 2016 09:07 GMT

USD/JPY - 111.02
Although price has eased after yesterday's rally to a fresh 1-month peak at 111.45 on dollar's broad-based strength following last week's comments from Fed's Yellen and further choppy trading would be seen, as said move signals recent erratic uptrend has resumed, consolidation with upside bias remains for a re-test of aforesaid resistance, break would yield further gain towards 111.80/90 before prospect of retreat later this week.

On the downside, only below 110.59 would indicate a temporary top has been made and risk stronger retracement towards 110.00.

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
 
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