AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Feb 2019 09:30 GMT

USD/JPY - 110.38
Despite dollar's intra-day recovery to 110.63 Asia, subsequent fall and break of yesterday's 110.43 low on risk aversion due to geopolitical tension between India and Pakistan suggests upmove from January's 9-month trough of 104.79 has made a temporary top at Monday's near 2-month high at 111.23 and stronger retracement towards 110.26 would be seen.

On the upside, only above 110.89 would indicate pullback has ended instead, risk re-test of 111.23, break, 111.40/45.

A slew of U.S. data is expected to be released today but one should keep an eye for factory orders at 15:00GMT. Street forecast is for a 0.5% increase vs previous reading of -0.6%. Chairman Powell is scheduled to repeat his testimony at 15:00GMT, this time to the House Financial Services Committee.

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

DAILY MARKET OUTLOOK on Major
Update Time: 28 Feb 2019 09:30 GMT

USD/JPY - 110.72
Despite yesterday's rally from 110.36 (Europe) to 110.07 in New York on rising U.S. yields, subsequent retreat and intra-day fall due to safe-haven yen buying on U.S.-North Korea news suggests further choppy trading below Monday's near 2-month high of 111.23 would continue and below 110.36 would extend decline towards 110.26, then 109.90/00.

On the upside, only above 110.93 would indicate pullback has ended instead, risks gain to 111.07, then possibly re-test of 111.23.

Data out on Thursday :
Japan industrial output, retail sales, construction orders, housing starts, New Zealand NBNZ business outlook, NBNZ own activity, Australia capital expenditure, building capex.
UK GfK consumer confidence, nationwide house price, Swiss GDP, KOF indicator, Germany import prices, CPI, HICP, France consumer spending, GDP, CPI, producer prices.
U.S. GDP, PCE, initial jobless claims, Chicago PMI, KC Fed manufacturing index, and Canada current account, producer prices.

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

DAILY MARKET OUTLOOK on Major
Update Time: 01 Mar 2019 09:30 GMT

USD/JPY - 111.84
Dollar's rally above Monday's 8-week high of 111.23 to 111.49 yesterday due to upbeat U.S. GDP data and intra-day break of said resistant suggests recent upmove from January's 9-month trough of 104.79 would extend towards 111.95/00 but near term loss of upward momentum would cap price below 112.24 and yield correction later.

On the downside, only below 111.23 would signal temporary top has been made, risk weakness to 111.07, break, 110.66/70.

Data out on Friday :
Germany import prices, Markit manufacturing PMI, unemployment change, unemployment rate, Swiss retail sales, manufacturing PMI, Italy Markit manufacturing PMI, unemployment rate, France Markit manufacturing PMI, EU Markit manufacturing PMI, HICP, unemployment rate, UK Markit manufacturing PMI.
U.S. personal income, personal spending, PCE, Markit manufacturing PMI, ISM manufacturing PMI, University of Michigan sentiment, and Canada GDP.

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

DAILY MARKET OUTLOOK on Major
Update Time: 05 Mar 2019 09:30 GMT

USD/JPY - 111.93
Despite the greenback's retreat from last Friday's 10-week peak at 112.07 to 111.64 yesterday, subsequent rebound suggests the pullback has ended 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 112.30/40, however, overbought condition would keep price below 112.69 and yield correction later this week.

On the downside, only below 111.64 would indicate a temporary top has been made and risk stronger retracement to 111.49, then 111.23.

Data out on Tuesday :
UK BRC retail sales, Markit services PMI, Germany Markit services PMI, Swiss CPI, Italy Markit services PMI, GDP, France Markit services PMI, EU Markit services PMI, retail sales.
U.S. building permits, redbook, Markit services PMI, ISM non-manufacturing PMI, new home sales, Federal budget.

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

DAILY MARKET OUTLOOK on Major
Update Time: 06 Mar 2019 09:20 GMT

USD/JPY - 111.79
Although dollar's retreat from yesterday's fresh 10-week high at 112.14 (New York) suggests recent strong upmove has made a temporary top and minor range trading is in store before prospect of further gain, 'loss of upward momentum' is expected to prevent strong gain today and reckon 112.60/70 would cap upside.

On the downside, only a daily close below 111.64 would shift risk to the downside for stronger retracement to 111.13/23 before prospect of a rebound later this week.

Pay attention to the release of U.S. ADP employment at 13:15GMT.
Street forecast is a for a drop in the private sector to 189k from previous reading of 213k.

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

DAILY MARKET OUTLOOK on Major
Update Time: 07 Mar 2019 09:20 GMT

USD/JPY - 111.77
Despite dollar's brief break of Wednesday's 111.62 low to 111.58 at Asian open, subsequent strong rebound suggests pullback from Tuesday's 10-week high at 112.14 has possibly ended, above 111.92 would confirm and yield re-test of said res, break would extend upmove from January's 9-month trough of 104.79 towards 112.40/45, but 112.60/67 may cap upside.

On the downside, only below 111.49 would indicate temporary top made, risks weakness to 111.23.

Pay attention to the release of U.S. jobless claims at 13:30. Street forecast is for an unchanged figure at 225K.

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

DAILY MARKET OUTLOOK on Major
Update Time: 08 Mar 2019 09:30 GMT

USD/JPY - 111.07
Dollar's intra-day fall from 111.64 in Australia and then break of yesterday's 111.48 low to 110.95 in Asia due to active safe-haven yen buying on selloff in Asian stocks suggests upmove from January's 9-month trough of 104.79 has made a temporary top at Tuesday's 10-week high at 112.14 and stronger retracement towards 110.66 would be seen but loss of momentum should keep price above 110.36.

On the upside, only above 111.86 would indicate pullback has possibly ended, risks gain towards 112.07/10.

Data to release on Friday :
Germany industrial orders, France current account, industrial output, trade balance, imports, exports, Italy industrial output, producer prices, UK NIESR GDP estimate.
Canada housing starts, capacity utilization, employment change, unemployment rate, and U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, building permits, housing starts.

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

DAILY MARKET OUTLOOK on Major

Update Time: 12 Mar 2019 09:30 GMT

USD/JPY - 111.34
Dollar's intra-day rise above Monday's 111.31 high to 111.46 in Asian morning suggests 1st leg of correction from last week's 10-week peak at 112.14 (Tuesday) has possibly ended at 110.79 Friday and stronger gain towards 111.65/70 would be seen but 111.86/92 should cap upside and yield retreat.

On the downside, below 110.79 needed to extend said fall towards 110.36 but 110.10/16 may hold.

Pay attention to the release of US CPI and core CPI at 12:30GMT.
Street forecasts CPI mm n yy are 0.2% n 1.6% vs previous readings of 0.0% n 1.6% respectively.

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AceTraderFx Mar 13: Daily Recommendations on Major - USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 13 Mar 2019 09:30 GMT

USD/JPY - 111.36
Dollar's retreat from yesterday's 111.47 high to 111.11 in New York suggests recovery from last Friday's 110.79 low has ended there and recent decline from last Tuesday's 10-week high at 112.14 would resume after consolidation and extend towards 110.50/55 but 110.36/40 should hold and yield rebound.

On the upside, only above 111.47/48 would risk stronger gain to 111.86/92 but 112.14 should remain intact.

Pay attention to the release of US durable goods mm at 12:30GMT.
Street forecast is for a 0.5% drop vs previous reading of a 1.2% increase.

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

DAILY MARKET OUTLOOK on Major
Update Time: 14 Mar 2019 09:30 GMT

USD/JPY - 111.70
Despite yesterday's fall from 111.47 to 111.01 in New York, intra-day cross-inspired rally above previous resistant at 111.48 suggests pullback from Mar's 10-week high of 112.14 has possibly ended at 110.79 last Friday, above 111.86/92 would confirm and bring re-test of 112.14, where break would extend upmove from 104.79 (January) towards 112.69.

On the downside, only below 111.01 would prolong choppy trading and risk weakness towards 110.79/88.

There is a slew of US data to be released today including import and export prices but traders should keep an eye on jobless claims at 12:30GMT. Street forecast is for a slight increase to 225k from previous reading of 223k.

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