AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

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DAILY MARKET OUTLOOK on Major

Update Time: 04 Mar 2020 09:30GMT

USD/JPY - 107.35
Yesterday's break of Monday's low at 107.00 to 106.94 in New York due to surprise 50 b.p rate cut by the Fed, then to a 4-1/2 month bottom at 106.86 in Australia today confirms recent decline has resumed, subsequent rebound may head back to 108.00/06 before prospect of another fall, however, reckon 106.49 would remain intact.

On the upside, only above 108.06 would risk stronger retracement to 108.53/57.

Pay attention to the release of US ADP employment at 13:15GMT and ISM non-manufacturing PMI at 15:00GMT. Street forecasts are 170k n 54.9, down from previous readings of 291k and 55.5 respectively.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 05 Mar 2020 09:30GMT

USD/JPY - 107.26
Despite dollar's resumption of recent decline from February's 9-1/2 month peak at 112.22 to a fresh 4-1/2 month bottom at 116.86 (AUS) yesterday, subsequent rebound to 107.73 today suggests temporary low made and intra-day retreat would bring range trading before prospect of another rise to 108.00/10.

On the downside, only below 107.00 may risk re-test of 106.86, break may head to 106.49/54.

Pay attention to the release of U.S. jobless claims at 13:30GMT. Street forecast if for a decrease in filings to 215k from previous reading of 219k.

AceTrader - Best Intra-day Forex Trading Strategies
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AceTraderFx Mar 06: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 06 Mar 2020 09:30GMT

USD/JPY - 105.78
Yesterday's selloff below Wednesday's low at 106.86 to 105.98 in New York, then to 105.68 today confirms recent decline from February's 9-1/2 month high at 112.22 has resumed and price would head to 105.00/10 after consolidation before prospect of rebound.

On the upside, only above 106.34 signals temporary bottom is made and risks stronger retracement to 106.51, then 106.86.

Data to be released later:
Germany industrial orders, France current account trade balance, imports, exports, UK Halifax house prices, Italy retail sales.
U.S. non-farm payrolls, private payrolls, average earnings, trade balance, wholesale inventories, wholesale sales, and Canada employment change, unemployment rate, trade balance, exports, imports, Ivey PMI.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates
 
AceTraderFx Mar 09: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 09 Mar 2020 09:30GMT

USD/JPY - 102.45
Intra-day selloff below 2019 low at 104.46 (Aug) to a 3-1/2 year trough at 101.57 on plunge in U.S. Treasury yields suggests medium term decline has resumed, and as 103.06 has capped subsequent recovery, downside bias remains, below 101.57 needed to head to 101.15/20.

On the upside, only above 103.06 signals temporary bottom is made and risks stronger retracement to 103.50/55.

Data to be released later:
Swiss unemployment rate, Germany industrial output, exports, imports, trade balance, current account, EU Sentix index.
Canada leading index, housing starts, building permits on Monday.

AceTrader - Best Intra-day Forex Trading Strategies
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AceTraderFx Mar 12: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 12 Mar 2020 09:30GMT

USD/JPY - 103.72
Despite dollar's rally from Monday's near 3-1/2 year bottom at 101.19 to 105.91 on Tuesday, subsequent fall to 103.10 in Asia today suggests 1st leg of correction has ended and intra-day rebound would bring range trading before prospect of another fall, however, reckon 101.95/00 should remain intact.

On the upside, only a firm break above 104.25/30 would indicate temporary low made and yield gain to 104.75/80.

Pay attention to the release of U.S. jobless claims claims at 12:30GMT. Street forecast is for a marginal increase to 218k from previous reading of 216k.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates
 
AceTraderFx Mar 13: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 13 Mar 2020 09:30GMT

USD/JPY - 105.91
The greenback's break of Tuesday's high at 105.91 to 106.08 yesterday suggests upmove from Monday's near 3-1/2 year low at 101.19 has resumed, as subsequent rebound after retreat to 104.51 in Australia today signals price would bring re-test of 106.08, break would extend to 106.34, however, reckon 106.86 should remain intact.

On the downside, only below 105.27 would indicate a temporary top has been made and risk stronger retreacement to 104.51/55 before correction.

Pay attention to the release of University of Michigan Consumer Sentiment at 14:00GMT. Street forecast is for a drop to 95.0 from previous reading of 101.0.

AceTrader - Best Intra-day Forex Trading Strategies
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AceTraderFx Mar 16: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 16 Mar 2020 09:30GMT

USD/JPY - 106.56
Despite dollar's resumption of upmove from last Monday's near 3-1/2 year bottom at 101.19 to a 9-day high at 108.50 (New York) on Friday, intra-day gap-down open and then selloff to 105.74 in New Zealand on active safe-haven yen buying after Fed's surprise rate cut suggests temporary top is made.

As price has retreated after rebounding to 107.57 (Asia), downside bias is retained, below 105.74 would head to 104.90/00 while above 107.57 would yield 107.95/00.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates
 
AceTraderFx Mar 17: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 17 Mar 2020 09:30GMT

USD/JPY - 106.75
Despite dollar's fall from Friday's 9-day high at 108.50 to 105.15 in New York, subsequent strong rebound to 117.18 in Asia today suggests 1st leg of correction has ended and as price has recovered after retreating to 106.18, upside bias is retained for gain to 107.90/00 after consolidation.

On the downside, only below 105.59/60 would risk weakness to 105.15/20.

There is a slew of data to be released from U.S. today and one should pay attention to industrial production and manufacturing output at 13:15GMT. Street forecasts are 0.4% and 0.3% vs previous readings of -0.3% and -0.1% respectively.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates
 
AceTraderFx Mar 18: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 18 Mar 2020 09:30GMT

USD/JPY - 107.42
Although dollar's retreat from yesterday's 107.86 (NY) high suggests choppy trading below last Friday's 9-day peak at 108.50 would continue, intra-day rebound from 106.76 at European open has retained bullishness for re-test of 107.86, where break would extend gain towards 108.50.

On the downside, only below 106.72/76 would risk stronger retracement to 106.18, then 105.59.

Data to be released on Wednesday :
Germany wholesale price index, Italy industrial orders, industrial sales, trade balance, EU trade balance, HICP, core HICP,.
U.S. MBA mortgage applications, building permits, housing starts, and Canada CPI, core CPI.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates
 
AceTraderFx Mar 19: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 19 Mar 2020 09:30GMT

USD/JPY - 109.02
Yesterday's rise above last Friday's high at 108.50 to 108.65, then to a 2-week top at 109.55 in Asia today suggests recent upmove from March's near 3-1/2 year trough at 101.19 has resumed and gain towards 109.90 would be seen after consolidation, however, reckon 110.70 may hold and yield correction.

On the downside, only below 108.46 signals temporary peak made and risks weakness to 107.75, then 107.09.

Pay attention to the release of U.S. jobless claims at 12:30GMT. Street forecast is for a slight increase to 220k from previous reading of 213k.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates
 
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