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

acetraderfx

AceTrader.com Representative
Messages
1,109
AceTraderFx May 14: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 14 May 2020 09:30GMT

USD/JPY - 106.86
Dollar's fall from Monday's 107.76 high to 106.75 in New York yesterday suggests 1st leg of correction from May's 105.99 bottom has ended and as price has fallen after recovering to 107.14, stronger retracement to 106.55/60 cannot be ruled out before prospect of rebound.

On the upside, above 107.35/36 would indicate pullback has ended and head to 107.63, then 107.76.

Although J. Powell's scheduled speech Wed was market's main focus this week, traders are eagerly awaiting release of weekly U.S. jobless claims n also continuing claims to gauge the latest damage done to U.S. jobs market due to coronovirus outbreak which is expected to add another 2.5 Americans out of jobs, making a y-t-d market forecast of around 25 million people filing for unemployment benefits.

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

acetraderfx

AceTrader.com Representative
Messages
1,109
AceTraderFx May 15: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 15 May 2020 09:30GMT

USD/JPY - 107.06
Although dollar's rebound from Wednesday's 106.75 low to 107.43 in Asia today suggests decline from this week's high at 107.76 (Monday) has made a temporary bottom, intra-day retreat on renewed usd's weakness signals recovery has possibly ended, below 106.87 would confirm and head to 106.75, break, 10.640/45, however, reckon 106.20/23 would remain intact.

On the upside, only above 107.43 would revive bullishness for gain to 107.63, then 107.76 but 108.03/08 may hold.

Data to be released on Friday:
Germany GDP, producer prices, PPI, France CPI, CPI (EU-norm), Italy industrial orders, industrial sales, CPI, CPI (EU-norm), EU employment change, GDP, trade balance.
U.S. New York Fed manufacturing, retail sales, retail sales ex-autos, industrial production, capacity utilization, business inventories JOLTS job openings, University of Michigan sentiment on Friday.

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

acetraderfx

AceTrader.com Representative
Messages
1,109
AceTraderFx May 18: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 18 May 2020 09:30GMT

USD/JPY - 107.16
Although dollar's retreat from last Monday's 2-week high at 107.76 to 106.75 Wednesday suggests first leg of correction from May's 7-week bottom at 105.99 has ended, subsequent rebound to 107.43 on Friday, then retreat to 106.86 would bring further choppy sideways swings before prospect of another rise, above 107.76 would head to 108.03/08.

On the downside, only below 106.75 would risk weakness to 106.51 but 106.20/23 should remain intact.

Data to be released later :
UK Righmove house price, Japan GDP, tertiary industry activity, Canada market .
U.S. NAHB housing on Monday.

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

AceTrader.com Representative
Messages
1,109
AceTraderFx May 19: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 19 May 2020 09:30GMT

USD/JPY - 107.49
Despite dollar's retreat from last Monday's 107.76 to 106.75 Wednesday, subsequent erratic rise to 107.59 today suggests pullback has possibly ended, above 107.63 would add credence to this view and yield re-test of 107.76, where break would extend upmove from May's 7-week bottom at 105.99 to 108.22/27, however, reckon 108.52/59 would hold today.

On the downside, only below 107.04 would prolong choppy trading and risk weakness to 106.75/78 before prospect of rebound.

Data to be released later:
UK claimant count, ILO unemployment employment change, average weekly earnings, Germany ZEW economic sentiment, ZEW current conditions, EU construction output, ZEW survey expectation.
U.S. building permits, housing starts, redbook and Canada new housing price index.

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

AceTrader.com Representative
Messages
1,109
AceTraderFx May 20: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 20 May 2020 09:30GMT

USD/JPY - 107.69
Although dollar's retreat after yesterday's resumption of upmove from May's 7-week bottom at 105.99 to a 1-month high of 108.08 (New York) suggests temporary top is made and choppy sideways swings would be seen, reckon 107.50 should remain intact and yield another rise to 108.52/59 later.

On the downside, only below 107.45/50 would risk stronger retracement to 107.20/25 but 107.04 should hold.

U.S. economic calendar is very thin today with MBA mortgage applications being the only data due out. We have Atlanta Fed's Bostic n St. Louis Fed's Bullard scheduled to speak at 14:00GMT n 16:00GMT 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

AceTrader.com Representative
Messages
1,109
AceTraderFx May 21: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 21 May 2020 09:30GMT

USD/JPY - 107.81
Despite dollar's retreat from Tuesday's 1-month high at 108.08 to 107.34 in New York yesterday, subsequent rebound and intra-day firmness after US Trump's China-bashing tweets suggests pullback has ended and upmove from May's 7-week bottom at 105.99 would resume and head to 108.47/52, however, overbought condition should cap price below 108.85 today.

On the downside, only below 107.45/50 would risk retracement to 107.34 but 107.04 should remain intact.

U.S. will release a slew of economic data later today (please refer to our EI page for details), however, market focus is on U.S. weekly claims n continuing claims as the latest gauge on U.S. economy in the wake of Covid-19 pandemic. Also, we have Fed chief J. Powell and other Fed presidents scheduled to speak in New York session.

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

AceTrader.com Representative
Messages
1,109
AceTraderFx May 22: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 22 May 2020 09:30GMT

USD/JPY - 107.48
Despite dollar's 3-legged rise from May's 7-week low at 105.99 to a 1-month high of 108.08 on Tuesday, subsequent fall to 107.34 on Wednesday, then 107.33 today suggests temporary top is made and mild downside bias would be seen, however, reckon 107.03/04 should hold, yield rebound.

On the upside, above 107.84 would indicate pullback has ended instead and risk re-test of 108.08.

Data to be released on Friday:
UK PSNB, PSNCR, retail sales, retail sales ex-fuel, France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI and Canada retail sales

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

AceTrader.com Representative
Messages
1,109
AceTraderFx May 25: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 25 May 2020 09:30GMT

USD/JPY - 107.73
Dollar's rebound from last Friday's low at 107.33 to 107.78 in New Zealand today signals pullback from Tuesday's 1-month high at 108.08 has ended there and consolidation with upside bias remains, above said resistant would extend upmove from May's 7-week trough at 105.99 to 108.52/59.

On the downside, only below 107.33 would risk stronger retracement to 107.04.

As U.S. markets are closed today for Memorial Day holiday, no economic data is due out and as London is also closed for Spring Bank holiday, trading will be quiet in N. American session.

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
 
Top