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

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

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

USD/JPY - 105.66
Yesterday's rally from a 33-month trough at 104.46 to 106.41 (New York) suggests medium term decline has made a temporary bottom there, subsequent retreat signals first leg of correction has ended and mild downside bias would be seen before prospect of another rise later.

Only above 106.41 would extend said upmove to 106.73/78 but 106.97 should remain intact and yield retreat.

Data to be released on Tuesday:
Germany GDP, France business climate, consumer confidence, UK BBA mortgage approvals, U.S. redbook, monthly home price, CS home price, consumer confidence and Richmond Fed manufacturing.

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

DAILY MARKET OUTLOOK on Major

Update Time: 28 Aug 2019 09:30 GMT

USD/JPY - 105.76
Despite Mon's initial fall to a 33-month trough at 104.46, subsequent rally to 106.41 on easing U.S.-China tension suggests medium decline has made a temporary low there, Tue's retreat to 105.60 signals first leg of correction has ended and mild downside bias would be seen before prospect of another rise.

On the upside, only above 106.16 would risk gain towards 106.41 but 106.73/78 should remain intact.

Data to be released on Wednesday:
UK BRC retail sales, Australia construction work done, Germany GfK consumer sentiment, import prices, Italy business confidence, consumer confidence, Swiss investor sentiment and U.S. MBA mortgage applications.

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

DAILY MARKET OUTLOOK on Major
Update Time: 29 Aug 2019 09:30 GMT

USD/JPY - 106.09
Despite dollar's initial fall to a 33-month trough at 104.46 on Monday, subsequent rise to 106.41 suggests medium term decline has made a temporary low and Tuesday's retreat to 105.60 signals first leg of correction has ended and range trading would be seen before prospect of another upmove.

Only below 105.60 would risk weakness to 105.41/44, break may extend towards 105.21.

Data to be released later:
Swiss non-farm payrolls, France consumer spending, GDP, Germany unemployment change, unemployment rate, CPI, HICP, Italy industrial orders, industrial sales, PPI, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence.
Canada current account, average weekly earnings, and U.S. GDP, PCE, wholesale inventories, initial jobless claims, trade balance, pending home sales.

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AceTraderFx Aug 30: Daily Recommendations on Major -USD/JPY

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

USD/JPY - 106.52
Although dollar's break of Moday's 106.41 high to 106.67 on Thursday due to easing U.S.-China trade tension suggests recent upmove from Monday's 33-month trough at 104.46 has once again resumed, subsequent retreat would bring range trading before price heads to 107.00/09.

On the downside, only below 106.20/22 would indicate temporary top is in place and yield retracement to 105.60/65.

T.G.I.F. after a tumultuous week, however, European n N. American traders must pay attention to release of key U.S. data later today starting with Fed's preferred inflation guage core PCE price index, PCE index, personal income n personal spending at 12:30GMT, then Chicago PMI and then University of Michigan consumer confidence. Therefore, one can expect a lot of volatility in New York morning trading, good luck.

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AceTraderFx Sept 02: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 02 Sept 2019 09:30 GMT

USD/JPY - 106.26
Despite dollar's resumption of upmove from last Monday's 33-month trough at 104.46 to 106.67 on Thur, subsequent retreat to 106.11 Fri, then lower to 105.93 today suggests first leg of correction has ended and consolidation with downside bias remains for weakness to 105.60/66 but 105.44 should remain intact.

On the upside, only above 106.67 would risk gain towards 106.97 before prospect of retreat.

Data to be released later:
Swiss retail sales, manufacturing PMI, Italy Markit manufacturing PMI, France Markit manufacturing PMI, Germany Markit manufacturing PMI, EU Markit manufacturing PMI, UK Markit manufacturing PMI.
Canada market holiday and U.S. market holiday on Monday.

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AceTraderFx Sept 03: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 03 Sept 2019 09:30 GMT

USD/JPY - 106.06
Despite dollar's rally from last Mon's 33-month trough at 104.46 to 106.67 on Thursday, subsequent fall to 105.93 on Monday suggests first leg of correction has ended and intra-day fall from 106.38 (Asia) has retained bearishness for weakness towards 105.60 but 105.44 should hold.

On the upside, only above 106.40/45 would yield 106.67/73, break, 106.97 later.

U.S. financial markets will return after yesterday's Labor Day holiday and will release a slew of eco. data starting with Markit mfg PMI, construction spending and ISM-mfg PMI.
We have Boston Fed President Rosengren (2019 FOMC voter, a centrist) speaking on the economy at an event hosted by a business school at 21:00GMT.

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AceTraderFx Sept 04: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 04 Sept 2019 06:00 GMT

USD/JPY - 106.24
Dollar's resumption of decline from last Thursday's 106.67 high to 105.75 yesterday suggests first leg of correction from August's 33-month trough at 104.46 has ended and intra-day rebound would bring range trading before prospect of another fall, however, 105.30 sup should remain intact.

On the upside, only above 106.40/42 would extend gain towards 106.67/73.

Data to be released on Wednesday:
Italy Markit services PMI, France Markit services PMI, Germany Markit services PMI, EU Markit services PMI, retail sales.
U.S. MBA mortgage applications, good trade balance, redbook, ISM New York index and Canada trade balance, exports, imports, labour productivity rate, BoC interest rate decision.

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

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

USD/JPY - 106.50
Dollar's intra-day rally in Asia and then break of last Thursday's 106.67 high to 106.75 suggests recent upmove from August's 33-month trough at 104.46 has once again resumed, subsequent pullback on retreat in U.S. yields would bring range trading before price head towards 107.09 but 107.49 should remain intact.

On the downside, only below 106.07/10 would indicate temporary top is made and yield 105.75.

Ahead of release of Fri's key U.S. jobs report, pay attention today on U.S. ADP private payrolls, initial weekly jobless claims, labor costs, non-farm productivity, Markit services PMI, durable goods and ISM non-mfg PMI.

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

DAILY MARKET OUTLOOK on Major

Update Time: 09 Sept 2019 09:30GMT

USD/JPY - 106.94
Despite dollar's fall from last Thursday's 5-week peak at 107.22 to 106.63 in post-NFP trading on Friday, subsequent rebound to 107.01 in Asia today suggests the pullback has ended and consolidation with upside bias remains for a re-test of said resistance, break would extend upmove from August's 33-month trough at 104.46 to 107.49/50 later, however, loss of momentum would keep price below 107.82.

On the downside, only below 106.63 would revive bearishness for stronger retracement to 106.38, then 106.22 before prospect of a recovery.

After Friday's blockbuster U.S. NFP, no eco. data is due out today, therefore, traders may take cue on intra-day move in U.S. yields especially the benchmark 1-year which had rebounded from Sepember's 3-year low of 1.429% (Tuesday) to as high as 1.608% on Friday (circa 1.5687%).

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

DAILY MARKET OUTLOOK on Major

Update Time: 10 Sept 2019 09:20GMT

USD/JPY - 107.28
Although dollar has retreated after intra-day break above last Thursday's 5-week peak at 107.22 to 107.49 in Asia on rising U.S. Treasury yields and minor consolidation would be seen, as said move signals upmove from August's 33-month trough at 104.46 has resumed, upside bias is retained for another rise to 107.82 before prospect of a correction due to loss of momentum.

On the downside, only below 107.06 would indicate a temporary top has been made and risk stronger retracement to 106.95/96 later.

Data to be released on Wednesday:
France non-farm payrolls, industrial output, Italy industrial output, UK claimant count, ILO unemployment rate, employment change, average weekly earnings.
Canada housing starts, building permits and U.S. redbook, JOLTS job opening.

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