AceTraderFx Oct 31: 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

Update Time: 29 Jun 2020 09:30GMT

USD/JPY - 107.18
Dollar's bounce from Friday's low at 106.81 to 107.35 in New York, then to 107.37 in Asia today suggests pullback from Thursday's 107.45 top has ended and subsequent retreat would bring choppy sideways swings before upmove from last Tuesday's 6-week trough at 106.08 resumes and heads to 107.63 but 107.96 should hold today.

On the downside, below 106.81 would risk marginal weakness but 106.60/63 would remain intact..

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

DAILY MARKET OUTLOOK on Major

Update Time: 30 Jun 2020 09:30GMT

USD/JPY - 107.73
Although dollar's weakness after resumption of upmove from last Tuesday's 6-week bottom at 106.08 to a near 3-week high at 107.88 in New York yesterday suggests minor top is made, intra-day rebound from 107.54 (Australia) has retained bullishness for gain to 108.54 before prospect of retreat due to loss of momentum.

On the downside, only below 107.37 would risk stronger retracement to 107.05/10 but 106.81 should hold.

Athough there is a slew of data to be released from U.S. today, market focus is on Federal Reserve Chair Jerome Powell and Treasury Secretary Mnuchin's testimony before the House Financial Services Committee at 16:30GMT.

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AceTraderFx July 02: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 02 July 2020 09:30GMT

USD/JPY - 107.47
Yesterday's selloff from 108.16 in Asia to 107.37 (New York), then 107.34 today suggests upmove from last Tuesday's 106.08 low has made a temporary top there and subsequent rebound would bring consolidation before heading to 107.05/10 but 106.81 should remain intact.

On the upside, only above 107.88 would risk re-test of 108.16, break, 108.54.

Data to be released on Thursday :
Swiss CPI, Italy unemployment rate, EU producer prices, unemployment rate.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, trade balance, initial jobless claims, continued jobless claims, ISM New York index, durables ex-defense, durable goods, factory orders, durables ex-transportation, and Canada trade balance, exports, imports, Markit manufacturing PMI.

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AceTraderFx July 03: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 03 July 2020 09:30GMT

USD/JPY - 107.49
Dollar's selloff from Wednesday's 108.16 high to 107.34 yesterday suggests recovery from last Tuesday's 6-week low at 106.08 has made a temporary top there and subsequent rebound to 107.72 in post-NFP trading would bring choppy sideways swings before down, below 107.34 would yield stronger retracement to 107.05 but 106.81 should remain intact.

On the upside, above 107.88 would re-test of 108.16, break is needed for 108.40.

Data to be released on Friday :
UK GfK consumer confidence, Markit services PMI, Japan Jibun Bank services PMI, France budget balance, Markit services PMI, Italy Markit services PMI, Germany Markit services PMI, EU Markit services PMI.
U.S. market holiday.

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AceTraderFx July 06: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 06 July 2020 09:30GMT

USD/JPY - 107.58
Dollar's bounce from last Thursday's 107.34 low to 107.77 in Asia today suggests correction from last Wednesday's 108.16 high has ended there and subsequent retreat would bring choppy sideways swings before prospect of another gain, above 107.88 wold re-test of 108.16, break would extend upmove from June's 6-week trough at 106.08 to 108.40.

On the downside, below 107.34 signals recovery is over and risks stronger retracement to 107.05 but 106.81 should remain intact.

Economic data to be released later:
Germany industrial orders, UK Markit construction PMI, EU Sentix index, retail sales.
U.S. Markit services PMI, ISM non-manufacturing PMI on Monday.

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AceTraderFx July 07: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 07 July 2020 09:30GMT

USD/JPY - 107.60
Despite dollar's retreat from last Wednesday's 108.16 high to 107.25 in Asia today, subsequent rebound suggests correction has possibly ended and consolidation with upside bias remains, above 107.88 would add credence to this view and bring re-test of 108.16, break would extend upmove from Jun's 6-week 106.08 bottom to 108.40/50.

On the downside, below 107.25 would risk stronger retracement to 107.05, then 106.81 before recovery occurs.

In the absence of major economic data from U.S. today, investors should pay attention to comments from San Francisco Fed President Daly and Richmond Fed President Barkin at 18:00GMT, where both will participate in a webinar panel on "Perspectives on the Pandemic".

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AceTraderFx July 08: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 08 July 2020 09:30GMT

USD/JPY - 107.47
Despite dollar's selloff from last Wednesday's peak at 108.16 to 107.25 yesterday, subsequent rebound to 107.78 suggests pullback has possibly ended and intra-day retreat from 107.70 would bring choppy sideways swings before prospect of another rise, above 107.88 would bring re-test of 108.16 but break needed to head to 108.40.

On the downside, below 107.25 would risk stronger retracement to 107.05, then 106.81.

As there is no major economic data due from U.S. today, pay attention to comments from Atlanta Fed President Raphael Bostic's comments at 16:15GMT.

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AceTraderFx July 10: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 10 July 2020 09:30GMT

USD/JPY - 106.82
Despite dollar's resumption of upmove from June's 6-week low at 106.08 to last Wednesday's 3-week high of 108.16, subsequent selloff to 107.11 in New York yesterday, then intra-day break of this level suggests temporary top has been made and further weakness to 106.39 would be seen, however, reckon 106.08 would hold on first testing.

On the upside, above 107.39/43 would indicate low is made and risk stronger retracement to 107.70/78.

T.G.I.F., apart U.S. eco. data due out later today (see EI page for details), traders will also take cue from intra-day movement in U.S. stocks, further weakness mat pressure price lower whilst intra-day rebound would lift the pair higher.

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AceTraderFx July 13: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 13 July 2020 09:30GMT

USD/JPY - 107.03
Intra-day bounce from 106.79 in Asia suggests choppy trading above last Friday's 106.65 low would continue with mild upside bias, however, reckon 107.11/16 should hold and yield another fall, below 106.65 would extend decline from July's 3-week peak at 108.16 to 106.39, break, 106.08.

On the upside, above 107.39/44 signals temporary bottom has been made and risk gain to 107.70/78.

Data released today :
New Zealand food price index, UK Rightmove house price, Japan tertiary industry .
U.S. Federal budget on Monday.

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AceTraderFx July 14: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 14 July 2020 09:30GMT

USD/JPY - 107.27
Dollar's rally from last Friday's low at 106.65 to 107.31 in New York yesterday, then 107.36 in Asia today suggests decline from July's 3-week peak at 108.16 has made a temporary bottom and further gain to 107.78 would be seen after consolidation, break would head to 107.90/00 but 108.16 should hold.

On the downside, only below 106.96 would indicate recovery over instead, risks 106.65/70.

Data to be released on Tuesday :
UK BRC retail sales, GDP, industrial output, manufacturing output, construction output, trade balance, NIESR GDP estimate, Germany CPI, HICP, ZEW economic sentiment, ZEW economic conditions, Swiss producer/import price index, EU industrial production, ZEW survey expectation.
U.S. core CPI, CPI real weekly earnings, redbook.

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