AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 29 Jun 2016 09:15GMT

USD/JPY - 102.39
Although dollar's erratic rise from 101.41 (Monday) to 102.84 in Australia today suggests further volatile price swings above last Friday's 29-month bottom at 99.00 would continue.
Intra-day cross-inspired retreat signals near term downside bias remains, reckon 101.77/82 would hold and bring subsequent rebound, above 102.84 needed to extend gain towards 103.25.

Below 101.77 would risk weakness twd 101.41 but expect 101.00/10 to contain weakness.

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 30 Jun 2016 09:15GMT

USD/JPY - 102.81
Although dollar's erratic rise from 101.41 (Monday) to 103.05 in Australia today suggests further volatile price swings above last Friday's 29-month bottom at 99.00 would continue, intra-day cross-inspired retreat signals near term downside bias remains, reckon 101.77/82 would hold and bring subsequent rebound, above 102.84 needed to extend gain towards 103.25.

Below 101.77 would yield weakness towards 101.41 but 101.00/10 should contain weakness.

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 07 Jul 2016 09:50 GMT

USD/JPY - 101.01
Dollar's selloff from last Friday's high of 103.40 to as low as 100.20 in Europe yesterday suggests correction from June's 29-month trough at 99.00 has ended there.
However, yesterday's intra-day rebound to 101.47 (New York) indicates further consolidation would be seen.

A daily close below 99.94 is needed to bring re-test of 99.00 and then resumption of Medium Term downtrend towards 98.00 'later'.
On the upside, only above 102.40/50 would indicate pullback from 113.40 is over instead and bring another rise to 103.30/40, break, 104.00/10.

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 13 Jul 2016 10:08 GMT

USD/JPY - 104.23
Although dollar's rally from last Friday's low at 100.00 and then yesterday breach of res at 103.40 to as high as 104.99 signals erratic upmove from June's 29-month trough at 99.00 to retrace Medium Term downtrend has resumed, subsequent retreat suggests a few days of choppy trading would be seen before said move yield further headway towards 105.55 (previous sup) but reckon 106.20/30 would cap upside.
On the downside, only below 102.45 would confirm a top has been made and bring weakness towards 101.00 but support at 100.00 should remain intact.

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 20 Jul 2016 09:12 GMT

USD/JPY - 106.39
Last week's rally above res at 103.40 (now sup) signals erratic rise from June's 29-month trough at 99.00 to retrace Medium term downtrend has resumed and yesterday's breach of last Friday's 106.32 high to 106.53 suggests choppy trading with upside bias remains.

Above 106.53 would extend gain to 107.00/10 but price should falter below 107.84 (pre-Brexit high) today.
On the downside, below 104.64 would indicate a temporary top has been made and bring retracement towards 103.91 before rebound occurs.

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 21 Jul 2016 09:46 GMT

USD/JPY - 106.82
Despite dollar's intra-day extension of erratic upmove form Jun's 29-month trough at 99.00 to a fresh 6-week peak at 107.49 in Asia, subsequent intra-day retreat suggests choppy trading would be seen before said move to retrace MT downtrend resumes to next upside target 107.90.

On the downside, only below 106.00/10 would indicate a temporary top has been made and bring retracement towards 105.66 before prospect of a rebound.

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 27 Jul 2016 09:09 GMT

USD/JPY - 105.45
Although dollar's spectacular rally to 106.54 in Asia on talk of more Japan's stimulus package suggests correction from last Thursday's 6-week peak at 107.49 has ended at 103.99 on Tuesday, subsequent intra-day retreat to 105.10 suggests choppy trading would be seen but as long as 104.60 holds, upside bias remains.
Above pivotal res at 106.73 anytime would confirm this view and bring re-test of 107.49 'later'

On the downside, only below 103.99 would bring stronger retracement of erratic upmove form June's 29-month trough at 99.00 to 103.25 (50% r) but sup at 102.45 should remain intact.

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 29 Jul 201609:04 GMT

USD/JPY - 103.70
Although dollar's initial 'wild swings' in Australia and Asian morning ended with price tumbling from 105.75 to a 2-week trough of 102.71 after BoJ expanded its stimulus package smaller than market expectation, subsequent minor rebound suggests consolidation is in store.

Above 104.50 would signal recent decline from 107.49 (July's high) has made a low, then outlook would improve for stronger subsequent gain to 105.00.
Below 103.00 may risk re-test of 102.71, however, near term loss of momentum is likely to limit weakness to 102.20/25 today.

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 04 Aug 2016 10:00 GMT

USD/JPY - 101.39
Although dollar's selloff below last Friday's 101.97 low to a fresh 3-week trough of 100.68 on Wednesday signals correction from June's 29-month trough at 99.00 has ended earlier at 107.49 (July), subsequent rebound to 101.57 yesterday and then intra-day breach of this resistance suggests a few days of choppy trading with mild upside bias remains.
However, price should falter below 102.83 (Tuesday's high) and yield another fall later.

On the downside, below 100.68 would yield weakness towards pivotal support at 100.00 but only a daily close below there would retain bearishness for a re-test of 99.00.

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 11 Aug 2016 09:06 GMT

USD/JPY - 101.27
Despite the greenback's rally on Friday's post release of robust U.S. jobs report to 102.66 on Monday, subsequent strong retreat to 100.97 yesterday suggests recent upmove from last week's low at 100.68 has made a temporary top there and consolidation with downside bias would be seen for weakness towards 100.75/86, however, aforesaid trough should hold on first testing and yield rebound.

On the upside, only above 102.03 would indicate said pullback has ended and turn outlook bullish for a re-test of 102.66.

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