AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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AceTraderFx Jun 1: Daily Recommendations on Major

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 01 Jun 2016 09:06 GMT

USD/JPY - 109.95
Although price has retreated after yesterday's rally to a fresh 1-month peak at 111.45 on dollar's broad-based strength following last week's comments from Fed's Yellen and further choppy trading would be seen, as said move signals recent erratic uptrend has resumed, consolidation with upside bias remains for a re-test of aforesaid resistance, break would yield further gain towards 111.80/90 before prospect of retreat later this week.

On the downside, only below 109.42 would indicate a temporary top has been made and risk stronger retracement towards 109.11.

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AceTraderFx Jun 2: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 02 Jun 2016 09:31 GMT

USD/JPY - 108.89
The greenback's sharp retreat in Asia today and subsequent breach of yesterday's low at 109.05 signals corrective decline from Monday's fresh 1-month peak at remains in progress and consolidation with downside bias remains for weakness towards 108.50/60.
However, loss of momentum would prevent steep fall below there and risk would increase for a much-needed correction later.

On the upside, only above 109.69 would indicate a temporary low has been made and yield stronger retracement towards 110.14 (50% r).

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AceTraderFx Jun 3: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 03 Jun 2016 09:25 GMT

USD/JPY - 108.85
The greenback's sharp retreat in Asia today and subsequent breach of yesterday's low at 108.53 signals corrective decline from Monday's fresh 1-month peak at remains in progress and consolidation with downside bias remains for weakness towards 108.20/23.
However, loss of momentum would prevent steep fall below there and risk would increase for a much-needed correction later.

On the upside, only above 109.69 would indicate a temporary low has been made and yield stronger retracement towards 110.14 (50% r).

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AceTraderFx Jun 6: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 06 Jun 2016 09:16 GMT

USD/JPY - 107.11
Despite the greenback's resumption of recent decline on much weaker-than-expected U.S. jobs report on Friday to 106.35 in Australia today, subsequent rebound suggests a minor low has been made and consolidation is in store, however, resistance at 107.65 would remain intact and bring another fall towards said support later, break would extend towards 105.90/00 before prospect of correction.

On the upside, only above 108.09 would confirm a temporary low has been made and yield stronger retracement to 108.40/50 before another retreat later this week.

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AceTraderFx Jun 8: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 08 Jun 2016 09:23 GMT

USD/JPY - 107.21
Despite the greenback's resumption of recent decline on much weaker-than-expected U.S. jobs report on Friday to 106.35 in Australia today, subsequent rebound suggests a minor low has been made and consolidation is in store.
However, resistance at 108.07 would remain intact and bring another fall towards said support later, break would extend towards 105.90/00 before prospect of correction.

On the upside, only above 108.07 would confirm a temporary low has been made and yield stronger retracement to 108.40/50 before another retreat later this week.

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

DAILY MARKET OUTLOOK on Major USD/JPY
15 Jun 2016 09:07GMT

USD/JPY - 106.28
Dollar's breach of Monday's low at 105.74 to 105.63 yesterday confirms correction from May's 18-month trough at 105.55 has ended earlier at 111.45 and re-test of this support is seen after consolidation, break would yield resumption of Medium Term downtrend to 104.70/80 but 'loss of momentum' should keep price well above 114.00 this week.

Intra-day rebound suggests choppy trading would be seen ahead of FOMC monetary decision later today (18:00GMT).
A daily above 107.26 needed to indicate a temporary low is made and bring retracement towards 107.90 before down.

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 17 Jun 2016 09:07GMT

USD/JPY - 104.28
Although yesterday's cross-inspired erratic rise from a fresh 22-month trough of 103.56 to 104.60 in New York, then a brief upmove to 104.83 at Asian open today signals recent downtrend has formed a temporary low there, intra-day retreat suggests choppy consolidation with downside bias is in store.
Below 103.75/80 signals correction is over and brings re-test of 103.56, loss of downward momentum would keep price above 103.00/10 today. On the upside, a daily close above 104.83 would yield stronger retracement towards 105.55 before prospect of retreat.

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 21 Jun 2016 09:07GMT

USD/JPY - 104.45
Despite dollar's selloff from yesterday's high of 104.85 to as low as 103.58 at Asian open today, subsequent intra-day rally suggests recent downtrend is not ready to resume yen and further choppy trading above Thursday's 22-month trough at 103.55 would continue, above 104.85 anytime would confirm a temporary low has been made and yield stronger retracement towards 105.55 (previous daily support, now resistance), break would extend towards 106.00 but 106.35/40 should cap upside and yield another decline later.

On the downside, only below 103.55/58 would bring further weakness towards 102.80 and then possibly 102.20/30 but 'loss of momentum' should keep price above 102.00.

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 27 Jun 201609:07GMT

USD/JPY - 102.03
Despite Friday's initial selloff from 107.84 to a fresh 29-month trough at 99.00 in Asia following the winning of Brexit vote outcome, subsequent intra-day rebound to 103.25 on short-covering in Europe suggests a Medium Term downtrend has made a temporary low there and a few days of choppy consolidation would be seen.

Below 99.94 needed to confirm recovery over and bring re-test of 99.00, break would extend weakness towards 98.00. On the upside, only above 103.25 would bring stronger retracement towards 106.72 before prospect of a retreat.

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 28 Jun 2016 09:15GMT

USD/JPY - 102.12
Despite's dollar's weakness to 101.41 just ahead of New York open yesterday, subsequent bounce to 102.13 and then intra-day brief rise above this level due to recovery in the Nikkie index suggests further volatile trading above last Friday's 29-month bottom at 99.00 would continue and gain to 102.47 can not be ruled out.
However, upside is expected to falter below 103.25 (Friday's reaction high) and yield another fall later.

On the downside, a daily close below 101.41 would suggest aforesaid correction from 99.00 is over, then outlook would turn bearish for weakness to 100.60/65, then 100.00/10.

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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates