AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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AceTraderFx x Dec 13: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 13 Dec 2018 09:30 GMT

USD/JPY - 113.43
Despite the greenback's retreat from 113.52 to 113.15 yesterday, subsequent rebound suggests consolidation with upside bias remains for upmove from last Thursday's 1-month trough at 112.24 to resume and yield re-test of said resistance, break would extend towards 113.85.
However, loss of momentum would keep price below daily resistance at 114.21 and yield correction early next week.

On the downside, only below 113.01 would indicate aforesaid rise has made a temporary top there and risk would increase for a stronger retracement towards 112.90/92.

U.S. eco. calendar is pretty light with second-tier initial jobless claims and export n import prices being the only data due out today.

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

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

USD/JPY - 112.36
Dollar intra-day brief break of previous Dec's 112.24 low due to renewed safe-haven yen buying suggests erratic fall from 114.21 (November) has resumed and although downside bias remains for marginal weakness in anticipation of Fed's dovish hike later today, near term loss of momentum should keep price above 111.60/70.

Only a daily close above 112.86 confirms temporary low has been made, then risk is seen for stronger retracement to 113.15/25 later.

On the data front ahead of Fed's rate decision n Fed Chair J. Powell's post-FOMC presser, U.S. will release MBA mortgage applications, current account n exiting home sales.

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

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

USD/JPY - 111.92
Dlr's intra-day break of Wednesday's 6-week low at 112.09 due to active safe-haven yen buying on renewed weakness in Asian stocks and falling U.S. yields suggests erratic fall from 114.21 (November) remains in force and would extend marginal weakness, loss of momentum should keep price above key daily sup at 111.38 (October low) today and risk has increased for a correction to take place tomorrow.

On the upside, above 112.30/35 indicates temporary low is in place and yields stronger recovery to 112.60/67 before prospect of another fall next week.

On the data front, U.S. will release weekly jobless claims, Philly Fed survey and leading indicator.

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

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

USD/JPY - 111.24
Although price has recovered after yesterday's selloff to a fresh 3-month trough at 110.82 on active cross-buying in jpy and minor consolidation would be seen, as said move signals erratic decline from October's peak at 114.55 has resumed, downside bias is retained for another fall early next week and below 110.82 would extend to 110.50/60, however, over sold condition would keep price above 110.38.

On the upside, only above 111.83 would indicate a temporary low has been made and risk stronger retracement towards 112.09/10.

The euro area countries will release some eco data starting with Germany's Gfk consumer confidence, import n export price, then France's eco. climate, consumer spending, final GDP n PPI n Italy's business and cosumer confidence. ECB's Vice President will deliver a speech in Mardid at 11:00GMT.

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AceTraderFx Dec Dec 24: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 24 Dec 2018 09:30 GMT

USD/JPY - 111.03
Although price has recovered after Friday's selloff to a fresh 3-month trough at 110.82 on active cross-buying in jpy and minor consolidation would be seen, as said move signals erratic decline from October's peak at 114.55 has resumed, downside bias is retained for another fall later this week and below 110.82 would extend to 110.50/60, however, over sold condition would keep price above 110.38.

On the upside, only above 111.83 would indicate a temporary low has been made and risk stronger retracement towards 112.09/10.

On the eco data front, the only U.S. data due out is Nov Chicago national activity index at 13:30GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 28 Dec 2018 09:30 GMT

USD/JPY - 110.41
Dollar's intra-day weakness after yesterday's brief but strong rebound from 110.46 to 111.10 in New York suggests correction from Tuesday's fresh 4-month bottom at 110.00 has possibly ended and consolidation with downside bias remains for re-test of said temporary low, break there would extend recent decline towards next daily obj. at 109.78 (August trough).

On the upside, only above 111.10 prolongs choppy sideways swings and may risk another rise towards 111.40.

Data to be released on Friday :
Japan Tokyo CPI, unemployment rate, industrial production, retail sales.
Germany import price index, CPI, HICP, Swiss KOF indicator, Italy unemployment rate, UK BBA mortgage approvals.
U.S. goods trade balance, wholesale inventories, Chicago PMI, new home sales, pending home sales.

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AceTraderFx Dec 31: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 31 Dec 2018 09:30 GMT

USD/JPY - 110.20
Friday's weakness to 110.15 suggests dollar's correction from Tuesday's fresh 4-month trough at 110.00 has ended at 1111.40, however, below said sup is needed to extend recent decline to next chart obj. at 109.78, loss of downward momentum should keep price above 109.55.

On the upside, only above 110.81/86 would prolong choppy trading above 110.00 and risk stronger gain towards 111.10 but 111.40 should remain intact.

The only eco. data due out later today in the U.S. is Dallas Fed mfg business index for Dec. Happy New Year !

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

DAILY MARKET OUTLOOK on Major
Update Time: 03 Jan 2019 09:30 GMT

USD/JPY - 107.61
Despite the greenback's 'flash crash' to a fresh 9-month trough at 104.79 in Australia on active safe-haven jpy buying due to Apple news, subsequent strong rebound to 107.85 suggests Medium Term decline from 2018 peak at 114.55 (October) has made a temporary low there and choppy trading with upside bias would be seen.
However, near term loss of momentum would keep price below 108.70/71 and yield a much-needed correction early next week.

On the downside, only below 105.67 would indicate aforesaid recovery has ended instead and risk re-test of 104.79, break, 104.10/20 later.

Data to be released on Thursday :
Japan market holiday, Swiss retail sales, manufacturing PMI, UK Markit construction PMI.
US MBA mortgage application, building permits, ADP employment change, goods trade balance, wholesale inventories initial jobless claims, ISM New York index, new home sales, construction spending, ISM manufacturing PMI.

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

DAILY MARKET OUTLOOK on Major
Update Time: 04 Jan 2019 09:30 GMT

USD/JPY - 107.93
Despite the greenback's 'flash crash' to a fresh 9-month trough at 104.79 in Australia on Thursday on active safe-haven jpy buying due to Apple news, subsequent strong rebound to 108.31, then 108.45 today suggests Medium Term decline from 2018 peak at 114.55 (October) has made a temporary low there and choppy trading with upside bias would be seen, however, near term loss of momentum would keep price below 108.70/71 and yield a much-needed correction early next week.

On the downside, only below 105.67 would indicate aforesaid recovery has ended instead and risk re-test of 104.79, break, 104.10/20 later.

Data to be released on Friday :
UK BRC shop price index, nationwide house price, Markit services PMI, France CPI (EU norm), CPI, Italy Markit services PMI, CPI, CPI (EU norm), France Markit services PMI, Germany Markit services PMI, unemployment change, unemployment rate, EU HICP, producer prices.
U.S. building permits, goods trade balance, wholesales inventories, non-farm payrolls, private payrolls, unemployment rate, average earnings, Markit services PMI, new home sales, construction spending, and Canada employment change, unemployment rate, producer prices.

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AceTraderFx Jan 07: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 07 Jan 2019 09:30 GMT

USD/JPY - 108.13
Despite the greenback's 'flash crash' to a fresh 9-month trough at 104.79 last Thursday on active safe-haven JPY buying due to Apple news, subsequent strong rebound to 108.30, then 108.74 today suggests Medium Term decline from 2018 peak at 114.55 (October) has made a temporary low there and choppy trading with upside bias would be seen, however, near term loss of momentum would cap price below 109.00 and yield a much-needed correction.

On the downside, only below 105.67 would indicate aforesaid recovery has ended instead and risk re-test of 104.79, break, 104.10/20 later.

On the data front, we have Germany's industrial orders and retail sales, then EU's Sentix investor confidence index and retail sales.

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