AceTraderFx Oct 31: DAILY MARKET OUTLOOK on Major - USD/JPY

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

DAILY MARKET OUTLOOK on Major

Update Time: 15 Mar 2019 09:30 GMT

USD/JPY - 111.68
Although dollar's intra-day retreat from 111.90 to 111.49 in Asia due to active safe-haven buying in jpy on renewed U.S./North Korea tension signals recent rise from last Friday's 110.79 low has made a temporary top, subsequent rebound has retained bullishness and above 111.90/92 would bring re-test of Mar's 10-week high of 112.14.

On the downside, only below 111.47 would indicate recovery has ended instead, risk weakness towards 111.01.

There is a slew of US data to be released today but one should be particular attention to the release of University of Michigan Consumer Sentiment at 14:00GMT.
Street forecast is for an increase to 95.3 from previous reading of 93.8.

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AceTraderFx Mar 18: Daily Recommendations on Major - USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 18 Mar 2019 09:30 GMT

USD/JPY - 111.49
Despite dollar's resumption of upmove from Mar's 110.79 low to 111.90 on Friday, subsequent fall to 111.39 in New York on safe-have jpy buying suggests correction has ended and further weakness towards 110.79/88 would be seen after consolidation but loss of momentum should keep price above 110.63/66.

On the upside, only above 111.90/92 would risk re-test of Mar' 10-week peak at 112.14, break, 112.30/35 later.

Since there is no significant eco. data due from the EU today, traders should keep an eye on comments from ECB's chief economist Peter Praet, as he delivers a keynote speech in Luxembourg at 15:10GMT.

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

DAILY MARKET OUTLOOK on Major

Update Time: 19 Mar 2019 09:30 GMT

USD/JPY - 111.27
Dollar's intra-day resumption of recent decline from last Friday's 111.90 high to 111.16 in Asia suggests recovery from March's 110.79 low has ended there and consolidation with downside bias remains for weakness to 110.90/95 but loss of momentum should keep price above 110.79 and yield rebound.

On the upside, only above 111.63 would indicate temporary low made and risk gain towards 111.90/92.

Data to be released later today:
Swiss trade balance, exports, imports, Italy trade balance, UK claimant count, ILO unenmployment rate, employment change, average weekly earnings, Germany ZEW economic sentiment, ZEW current conditions, EU construction output, labour costs, ZEW economic sentiment.
U.S. redbook, durables ex-defense, durable goods, durables ex-transport, factory orders.

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

DAILY MARKET OUTLOOK on Major

Update Time: 20 Mar 2019 09:30 GMT

USD/JPY - 111.57
The greenback's rise to 111.68 in Asia suggests pullback from last Friday's high at 111.90 has ended at 111.16 yesterday and consolidation with upside bias remains for gain to 111.83, however, loss of momentum would keep price below 111.90 and yield another fall towards 111.16 later, below would extend marginally before prospect of rebound.

On the downside, only below 110.79 would signal decline from March's 10-week peak at 112.14 has resumed and yield weakness to 110.60/65.

Market focus is on today's FOMC decision at 18:00GMT and although it is widely expected the central bank will keep its rate unchanged, traders should pay particular attention to Chairman Powell's press conference at 18:30GMT and his tone in regards to the rate path the central bank will undertake this year.

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

DAILY MARKET OUTLOOK on Major
Update Time: 21 Mar 2019 09:30 GMT

USD/JPY - 110.35
Dollar's selloff yesterday and then break of previous sup at 110.79 to a near 3-week low of 110.54 after Fed's dovish hold suggests recent decline from March's 10-week high at 112.14 has once again resumed and further weakness towards 110.10/15 would be seen but oversold condition should keep price above 109.90/00.

On the upside, only above 111.01 would indicate temporary low has been made instead, risk stronger retracement to 111.38.

Pay attention to the release of US jobless claims at 12:30GMT.
Street forecast is for a drop to 225k from previous reading of 229k.

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AceTraderFx Mar 25: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 25 Mar 2019 09:30 GMT

USD/JPY - 110.10
Dollar's intra-day brief break of Friday's 5-week low at 109.74 to 109.71 in Asia due to selloff in Nikkei-225 suggests recent decline from March's 10-week peak at 112.14 has resumed, subsequent rebound would bring range trading before prospect of another fall towards 109.15/25.

On the upside, only above 110.30 would indicate temporary low made and yield stronger retracement towards 110.65.

Data to be released later:
Germany Ifo business climate, Ifo current conditions, Ifo expectations, and U.S. Chicago national activity index, Dallas Fed manufacturing business index on Monday.

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

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

USD/JPY - 111.46
Although dollar's intra-day retreat in Asia to 111.35 due to active cross-unwinding in Japanese yen suggests recent erratic upmove has made a temporary top at Fri's near 3-week high in post-NFP New York morning and choppy consolidation is in store, as long as 111.19/21 sup area holds, upside bias remains for marginal gain, 'loss of momentum' should cap price below Mar's high at 112.14.

A daily close below 111.19 would risk stronger retracement towards 110.82 before prospect of rebound later this week.

Data out later today:
Germany exports, imports, trade balance, current account, EU Sentix index.
Canada housing starts, building permits, and U.S. durables ex-defense, durable goods, durables ex-transportation on Monday.

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AceTraderFx Apr 09: Daily Recommendations on Major -USD/JPY

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

USD/JPY - 111.27
Despite dollar's initial brief bounce to 111.58 in Asia, intra-day marginal break of yesterday's 111.29 low (New York) suggests recent upmove has made a temporary top at Friday's near 3-week peak at 111.82 and consolidation with downside bias remains for stronger retracement, reckon sup at 110.82 would contain weakness and bring rebound.

On the upside, only above 111.58/68 signals pullback is over and risk is seen for re-test of 111.82, then towards March's peak at 112.14 later this week.

U.S. eco. data is pretty light today with Redbook retail sales and JOLTS job openings being the only data due out in New York morning.

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Apr 2019 09:30 GMT

USD/JPY - 111.17
Dollar's decline from last week's 111.82 (Fri) high to 110.98 yesterday due to safe-haven yen buying suggests recent cross-inspired upmove from March's 5-week bottom at 109.71 has made a temporary top and despite subsequent recovery, outlook remains bearish for weakness to 110.82 objective, loss of downward momentum should keep price above previous 110.53/54 sup.

Only a daily close above 111.40 indicates pullback has ended, then risk is seen for gain to 111.58, break would yield re-test of 111.82.

Data to be released on Wednesday :

France industrial output, Italy industrial output, UK GDP, industrial output, manufacturing output, construction output, trade balance, EU ECB interest rate decision, ECB deposit rate decision.
U.S. MBA mortgage application, CPI, real weekly earnings, Federal budget, FOMC minutes.

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AceTraderFx Apr 11: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 11 Apr 2019 0 9:30 GMT

USD/JPY - 111.12
Despite dollar's resumption of decline from last Friday's near 3-week high at 111.82 to an 8-day low of 110.85 in New York yesterday, subsequent rebound suggests temporary bottom made and consolidation with mild upside bias towards 111.28/29 would be seen, however, 111.57/58 would cap upside.

On the downside, only below 110.85 would extend marginal fall to 110.53/54 before prospect of rebound due to loss of momentum.

After yesterday's U.S. CPI data n FOMC minutes, we have a slew of data due out later in the day starting with weekly initial jobless claims, final Marcg PPI and core PPI.
Pay attention to speeches by a number of Fed officials (please refer to our EI section for details).

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