AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

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DAILY MARKET OUTLOOK on Major

Update Time: 08 Jan 2019 09:30 GMT

USD/JPY - 108.92
Despite the greenback's 'flash crash' to a fresh 9-month trough at 104.79 last Thursday on active safe-haven jpy buying, subsequent strong rebound to 108.30, then 109.09 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 109.45/50 and yield a much-needed correction.

On the downside, only below 107.52 would indicate aforesaid recovery has ended instead and risk stronger weakness towards 105.67 later this week.

On the data front, U.S. will release a slew of data starting with whole inventories, Redbook sales, JOLTS job openings, durable goods order, factory orders, new home sales n construction spending later.

AceTrader - Best Intra-day Forex Trading Strategies
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AceTraderFx Jan 10: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 10 Jan 2019 09:30 GMT


USD/JPY - 107.90
Despite the greenback's rise to 109.09 on Tuesday, subsequent retreat suggests the first leg of correction from January's 9-1/2 month trough at 104.79 has ended there and consolidation with downside bias remains for weakness towards 107.52, however, loss of momentum would keep price above 107.12 and yield rebound early next week.

On the upside, only above 108.68 would indicate said pullback has ended instead and risk re-test of 109.09, break would extend towards 109.50/60.

Data to be released on Thursday :
UK BRC retail sales, France industrial ouput, Italy retail sales.
Canada building permits, new housing price index, and U.S. building permits, initial jobless claims, trade balance, wholesale inventories, wholesale sales, durable goods, durables ex-defense, durables ex-transport, factory orders, new home sales, construction spending.

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 Jan 11: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 11 Jan 2019 09:30 GMT

USD/JPY - 108.29
Despite the greenback's rise to 109.09 on Tuesday, subsequent retreat to 107.77 yesterday suggests the first leg of correction from January's 9-1/2 month trough at 104.79 has ended there and consolidation with downside bias remains for weakness towards 107.52, however, loss of momentum would keep price above 107.12 and yield rebound early next week.

On the upside, only above 108.68 would indicate said pullback has ended instead and risk re-test of 109.09, break would extend towards 109.50/60.

T.G.I.F., U.S. will later release a slew of eco. data starting with Dec core CPI, real weekly earnings, trade budget and Federal budget. Pay attention to core CPI and weekly earnings as these are the Fed's inflation barometer, so if actual readings come in higher than forecast, usd will rise.

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 Jan 14: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 14 Jan 2019 09:30 GMT

USD/JPY - 108.09
Despite the greenback's rise to 109.09 last Tuesday, subsequent retreat to 107.77 Wednesday suggests the first leg of correction from January's 9-1/2 month trough at 104.79 has ended there and consolidation with downside bias remains for weakness towards 107.52, however, loss of momentum would keep price above 107.12 and yield rebound early next week.

On the upside, only above 108.68 would indicate said pullback has ended instead and risk re-test of 109.09, break would extend towards 109.50/60.

Data to be released later today:
EU industrial production, and U.S. building permits, wholesales inventories, wholesale sales, durable goods, durables ex-defence, durables ex-transport, factory orders, new home sales, construction spending on Monday.

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 Jan 15: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 15 Jan 2019 09:30 GMT

USD/JPY - 108.64
The greenback's rally from yesterday's low at 107.99 to 108.75 today suggests pullback from last Tuesday's high at 109.09 has ended there and consolidation with upside bias remains for upmove from January's 9-month trough at 104.79 to resume and yield re-test of said resistance, break would extend towards 109.45/50 but over bought condition would keep price below 109.75 this week and yield correction later.

On the downside, only below 107.77 would indicate temporary low has been made, risk stronger retracement towards 107.50/52.

Data to be released on Tuesday:
France budget balance, CPI, Germany annual GDP, EU trade balance, UK Parliamentary vote on Brexit'
U.S. New York Fed manufacturing index, PPI, redbook, building permits, wholesales inventories, wholesale sales, durable goods, durables ex-defence, durables ex-transport, factory orders, new home sales, construction spending.

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 Jan 16: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 16 Jan 2019 09:30 GMT

USD/JPY - 108.62
The greenback’s rally from Monday’s low at 107.99 to 108.76 yesterday suggests pullback from last Tuesday’s high at 109.09 has ended there and consolidation with upside bias remains for upmove from January’s 9-month trough at 104.79 to resume and yield re-test of said resistance, break would extend towards 109.45/50 but over bought condition would keep price below 109.75 this week and yield correction later.

On the downside, only below 107.77 would indicate temporary low has been made, risk stronger retracement towards 107.50/52.

Data to be released on Wednesday:
Germany CPI, HICP, Italy industrial orders, industrial sales, CPI, UK CPI, RPI, PPI input, PPI output, BBA mortgage approvals, DCLG house price index, and U.S. building permits, wholesales inventories, wholesale sales, durable goods, durables ex-defence, durables ex-transport, factory orders, new home sales, construction spending, MBA mortgage application, import prices, export prices, retail sales, business inventories, NAHB housing market index, Fed’s Beige Book.
 
AceTraderFx Jan 17: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 17 Jan 2019 09:30 GMT

USD/JPY - 108.76
Although the greenback has retreated after yesterday's rise above previous resistance at 109.09 to 109.19 and minor consolidation would be seen, as said move signals upmove from January's 9-month trough at 104.79 has resumed, upside bias is retained and above said resistance would extend towards 109.45,.
However, loss of momentum would keep price below 109.75, yield retreat.

On the downside, only below 108.34 would indicate a temporary top has been made and risk stronger retracement towards 108.14 but 107.99 should remain intact.

Data to be released on Thursday :
UK RICS housing price balance, Italy trade balance, EU construction output, HICP.
U.S. building permits, housing starts, initial jobless claims, Philadelphia Fed survey wholesales inventories, wholesale sales, durable goods, durables ex-defence, durables ex-transport, factory orders, new home sales, construction spending, MBA mortgage application, retail sales, business inventories, NAHB housing market index and Canada ADP employment change.

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 Jan 18: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 18 Jan 201909:30 GMT

USD/JPY - 109.43
The greenback's rise to a fresh 2-month peak at 109.39 yesterday on renewed U.S.-China trade optimism and intra-day break of this resistance to 109.46 signals upmove from January's 9-month trough at 104.79 remains in progress and consolidation with upside bias remains for further gain to 109.75, however, loss of momentum would keep price below 110.00 and yield a much-needed correction early next week.

On the downside, only below 108.69 would indicate a temporary top has been made and risk stronger retracement towards 108.10/20.

Data to be released on Friday :
Swiss producer/import price, EU current account, UK retail sales.
Canada CPI and U.S. building permits, housing starts, wholesales inventories, retail sales, industrial production, capacity uitlization, manufacturing output, U. Mich. sentiment, new home sales, durable goods, durables ex-defense, durables ex-transport, factory orders, wholesale inventories, wholesale sales, business inventories.

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 Jan 21: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 21 Jan 2019 09:30 GMT

USD/JPY - 109.61
Although dollar has retreated after Friday's rally to a 2-week high at 109.88 in New York due to U.S./China trade optimism and range trading would be seen before recent upmove from January's 9-month trough of 104.79 extend towards 110.10/15 but near term loss of momentum would cap price below 110.38.

On the downside, only below 109.09 would indicate temporary top made and risks weakness towards 108.69/76.

As U.S. market is closed for Martin Luther King Jr. holiday, expect trading activity to be quiet in N. American time zone.

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 Jan 22: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 22 Jan 2019 09:30 GMT

USD/JPY - 109.40
Although dollar's intra-day retreat from 109.70 at Asian open on cross-buying in yen suggests recent upmove from January's 9-month trough of 104.79 has made a temporary top at Friday's 2-1/2 week high at 109.88 and range trading would be seen, reckon 109.06/09 sup would hold and yield another rise but loss of momentum should cap price below 110.38.

On the downside, only below 109.06 would risk stronger retracement towards 108.94, then 108.69/74.

Data to be released on Tuesday :
UK claimant count, PSNB, PSNCR, ILO unemployment rate, employment change, average weekly earnings, Germany ZEW economic sentiment, ZEW current condition, EU ZEW economic sentiment.
Canada manufacturing sales, wholesale sales, and U.S. building permits, wholesale inventories, retail sales, housing starts, existing home sales, business inventories, new home sales, durable goods, durables ex-defense, durables ex-transport, factory orders.

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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