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

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

DAILY MARKET OUTLOOK on Major

Update Time: 12 Apr 2019 09:30 GMT

USD/JPY - 111.94
Intra-day cross-inspired break above last Friday's 111.82 high to a 1-month top of 111.95 confirms recent upmove from March's 5-week low of 109.71 has resumed and would yield re-test of March's 112.14 high, where break would extend medium term rise from January's 9-month 104.79 trough towards 112.30/40 but 112.69 may hold.

On the downside, only below 111.57/58 would risk stronger retracement towards 111.28/29.

T.G.I.F., U.S. will release import n export prices and then University of Michigan consumer confidence.
We also have the second day of the 2-day IMF and World Bank meeting where a number of govt. finance officials will be speaking (please refer to our EI section for details).

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AceTraderFx Apr 15: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 15 Apr 2019 09:30 GMT

USD/JPY - 111.94
Although dollar's retreat after intra-day 1-tick break of Friday's high at 112.09 suggests consolidation is in store before a re-test of March's 10-week peak at 112.14 is forthcoming and a break there would extend upmove from January's 9-month trough at 104.79 towards 112.35 later, loss of momentum would prevent sharp move beyond there and risk would increase for a much-needed correction.

On the downside, only below 111.28 would indicate a temporary top has been made and risk stronger retracement to 110.83 later this week

Data to be released today:
Swiss producer/import price, and U.S. New York Fed manufacturing index on Monday.

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

DAILY MARKET OUTLOOK on Major

Update Time: 16 Apr 2019 09:30 GMT

USD/JPY - 111.92
Although dollar's retreat after yesterday's 1-tick break of Friday's high at 112.09 suggests consolidation is in store before a re-test of March's 10-week peak at 112.14 is forthcoming and a break there would extend upmove from January's 9-month trough at 104.79 towards 112.35 later, loss of momentum would prevent sharp move beyond there and risk would increase for a much-needed correction.

On the downside, only below 111.28 would indicate a temporary top has been made and risk stronger retracement to 110.83 later this week.

U.S. will release a slew of eco. data starting with Redbook sales, industrial production, capacity utilization, mfg output, whilesales inventories, NAHB Housing Market index and Fed's beige book.
We also have Dallas Fed President Kaplan (non-voter) who's participating in a moderated question-and-answer session before a community forum hosted by the Federal Reserve Bank of Dallas.

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

DAILY MARKET OUTLOOK on Major

Update Time: 17 Apr 2019 09:30 GMT

USD/JPY - 112.06
Dollar's intra-day rise to a near 4-month high at 112.17 at Asian open confirms medium term upmove from Jan's 9-month trough of 104.79 has resumed, subsequent retreat would bring range trading before price extends to 112.50/55 but loss of momentum should cap price below 112.67.

On the downside, only below 111.58 would risk stronger retracement towards 111.28 before rebound.

Data to be released on Wednesday:
Italy consumer prices, trade balance, global EU current account, trade balance, HICP, UK CPI, RPI, PPI input prices, PPI output prices.
U.S. MBA mortgage application, trade balance, wholesale sales, and Canada CPI, trade balance, exports, imports.
 

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

DAILY MARKET OUTLOOK on Major

Update Time: 18 Apr 2019 09:30 GMT

USD/JPY - 111.87
Although dollar has retreated after yesterday's brief rise to a near 4-month high at 112.17 at Asian open and range trading would be seen before medium term upmove from January's 9-month trough of 104.79 resumes and head towards 112.50/55 but reckon 112.67 would cap upside.

On the downside, only below 111.58 would risk stronger retracement towards 111.28, then possibly 111.00/05.

Data to be released on Thursday :
Germany producer prices, Markit manufacturing PMI, Markit services PMI, Swiss trade balance, imports, exports, France Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, UK retail sales, Italy industrial orders, industrial sales.
U.S. initial jobless claims, Philadelphia Fed survey, retail sales, Markit manufacturing PMI, Markit services PMI, business inventories, leading indicator, and Canada ADP employment change, retail sales.

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

DAILY MARKET OUTLOOK on Major
Update Time: 23 Apr 2019 09:30 GMT

USD/JPY - 111.87
Despite dollar's intra-day sharp fall to 111.66 in Asian morning due to broad-based yen buying, subsequent rebound to 111.93 at European open suggests pullback from last Wed's near 4-month peak at 112.17 has possibly ended, above 111.98/02 would bring re-test of 112.17, where break would extend medium term upmove from 104.79 (January) towards 112.35, then 112.60/67 later.

On the downside, only below 111.58 would risk stronger retracement towards 111.28, then 110.90/95.

Data out later:
Swiss market holiday, UK market holiday, Germany market holiday, Italy market holiday, France market holiday.
U.S. Chicago national activity index, existing home sales.

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

DAILY MARKET OUTLOOK on Major
Update Time: 24 Apr 2019 09:30 GMT

USD/JPY - 111.81
Although dollar has retreated after resumption of upmove from Jan's 9-month trough of 104.79 to a near 4-month high at 112.17 last Wed, yesterday's rebound from 111.66 (Asia) to 112.03 in New York signals range trading would be seen before price extends towards 112.40/45 but loss of momentum should cap price below 112.67 and yield correction.

On the downside, only below 111.58/66 would risk stronger retracement towards 111.28, then 111.00/05.

Data to be released on Wednesday :
France business climate, Germany Ifo business climate, Ifo current conditions, Ifo expectations, Italy trade balance, Swiss investor sentiment, UK PSNB, PSNCR.
U.S. MBA mortgage application and Canada Bank of Canada interest rate decision.

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

DAILY MARKET OUTLOOK on Major

Update Time: 25 Apr 2019 09:30 GMT

USD/JPY - 111.86
Although dollar's retreat after yesterday's rally to a 4-month peak at 112.39 in New York suggests medium term upmove from January's 9-month trough of 104.79 has made a temporary top there and range trading would be seen before price head towards 112.67 later but loss of momentum should limit upside to 113.00.

On the downside, only below 111.66 would risk stronger retracement towards 111.58, then 111.28/33.

Ahead of Friday's key U.S. GDP, we have the usual weekly jobless claims, durable goods order and KC Fed mfg index.

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AceTraderFx Apr 26: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 26 Apr 2019 09:30 GMT

USD/JPY - 111.69
Although yesterday's decline to 111.38 in New York confirms recent upmove has made a temporary top at Wed's 4-month peak at 112.39 and range trading is seen ahead of key U.S. GDP data, as long as daily sup at 110.85 holds, upside bias remains and above 112.00/05 signals pullback is over and may head towards 112.67 early next week.

Only below 110.85 signals long-awaited correction has occurred and risk would shift to downside for stronger retracement to 110.00/10 later.

Data to be released later:
France consumer confidence, UK BBA mortgage approvals, CBI trends survey, and U.S. GDP, PCE, University of Michigan sentiment.

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AceTraderFx Apr 29: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 29 Apr 2019 09:30 GMT

USD/JPY - 111.75
Despite dollar's brief jump to 112.03 in New York on Fri due to robust U.S. GDP data, subsequent fall to 111.43 on soft U.S. PCE suggests further choppy trading below last Wed's 4-month peak at 112.39 would be seen, intra-day rebound would bring range trading before another decline but 111.00/10 should hold.

On the upside, above 112.03 would bring re-test of 112.39, break, 112.60/67.
Below 110.85 would risk retracement towards 110.53/58.

On the U.S. data front, we have personal income, core PCE price index, PCE price index and Dallas Fed mfg business index.

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