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

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AceTraderFx July 29
: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 29 July 2020 09:30GMT

USD/JPY - 104.82
Dollar's intra-day break below yesterday's fresh 4-month trough at 104.96 suggests erratic decline from March's 111.71 peak remain in progress and further weakness to 104.40/45 would be seen after consolidation, however, reckon 104.11/16 should remain intact due to loss of momentum and bring correction later this week.

On the upside, above 105.24 signals temporary bottom has been made and risks stronger retraceent to 105.37, then 105.69.

Data to be released on Wednesday :
UK BRC shop price index, Australia CPI, German import prices, France sonsumer confidence, Italy producer prices, Swiss investor sentiment.
U.S. MBA mortgage applications, trade balance, wholesale inventories, pending home sales, FOMC interest rate decision.

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

DAILY MARKET OUTLOOK on Major

Update Time: 30 July 2020 09:30GMT

USD/JPY - 105.05
Despite dollar's resumption of medium term decline from March's 111.71 peak to a fresh 4-month trough at 104.78 in New York yesterday on Fed's dovish hold, subsequent rebound to 105.29 today on usd's broad-based recovery suggests temporary low is possibly made, above 105.37/40 would yield retracement to 105.68/69 b4 prospect of retreat.

On the downside, below 104.78 would extend aforesaid fall to 104.60 but 104.40 should hold.

There is a slew of data to be released from U.S. today but one should pay particular attention to GDP QQ and GDP deflator at 12:30GMT. Street forecasts are -34.1% and 1.1% vs previous readings of -5.0% and 1.6% respectively.

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AceTraderFx July 31: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 31 July 2020 09:30GMT

USD/JPY - 104.43
Dollar's intra-day break below yesterday's low at 104.19 to a 4-1/2 month trough at 104.19 on usd's continued weakness suggests erratic decline from March's 111.71 peak remains in progress and further weakness to 103.75/80 would be seen after consolidation, however, oversold condition should keep price above 103.40/50 and yield a much-needed correction later.

On the upside, above 104.78 would indicate a temporary bottom has been made and risk stronger retracement to 105.2937 but resistance at 105.68/69 should hold.

There is a slew of U.S. data to be released today but one should pay close attention to personal income and personal spending at 12:30GMT. Street forecasts are -0.5% and 5.5% vs previous readings of -4.2% and 8.2% respectively.

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

DAILY MARKET OUTLOOK on Major

Update Time: 03 Aug 2020 09:30GMT

USD/JPY - 105.76
Despite dollar's resumption of medium term decline to a fresh 4-1/2 month low at 104.19 on Friday, subsequent rally to 106.05 in New York, then 106.43 in Asia today suggests temporary bottom is made and intra-day retreat would bring choppy sideways swings before heading to 106.60/70, however, reckon 106.90 should hold.

On the downside, only below 105.50 would risk stronger retracement to 105.05.

There is a slew of manufacturing PMIs to be released from the eurozone today. Pay particular attention to Germany's figure at 07:55GMT, which is expected to remain unchanged at 50.0.

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

DAILY MARKET OUTLOOK on Major

Update Time: 04 Aug 2020 09:30GMT

USD/JPY - 105.97
Dollar's rally from last Fri's 4-1/2 month bottom at 104.19 to 106.47 yesterday suggests medium term decline from March's 111.71 peak has made a temporary low and subsequent retreat indicates first leg of correction is over and may head back to 105.59/64 before prospect of another rise but 106.90 would remain intact.

On the downside, only below 105.29/33 would bring stronger retracement to 104.78/83.

Data releases on Tuesday :
Japan Tokyo core CPI, CPI, Australia trade balance, imports, exports, retail sales, retail trade, RBA interest rate decision.
Swiss consumer confidence, France budget balance, EU producer prices.
U.S. redbook, durables ex-defense, durable goods, factory orders, durables ex-transportation, Canada Markit manufacturing PMI, and New Zealand GDT price index.

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

DAILY MARKET OUTLOOK on Major

Update Time: 06 Aug 2020 09:30GMT

USD/JPY - 105.56
Although dollar's retreat from this week's high at 106.47 (Monday) to 105.33 in New York yesterday suggests first leg of correction from last Friday's 4-1/2 month bottom at 104.19 has ended, as long as 105.29/33 holds, consolidation with upside bias remains for gain to 105.87, then 106.19, break needed to bring re-test of 106.47.

On the downside, only below 105.29/33 would risk weakness to 105.05/10 before prospect of rebound.

Data to be released on Thursday :
Germany industrial orders, UK BoE interest rate decision, BoE QE total, BoE QE corporate bond purchases, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPC vote cut, Markit construction PMI, Italy industrial output, and U.S. initial jobless claims, continued jobless claims.

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

DAILY MARKET OUTLOOK on Major

Update Time: 07 Aug 2020 09:30GMT

USD/JPY - 105.62
Dollar's rebound from yesterday's low at 105.31 to 105.64 in New York, then intra-day break above this level suggests near term decline from Monday's 106.47 peak has possible ended there and further gain to 105.87 would be seen after consolidation, break would extend to 106.19, break, 106.47 again.

On the downside, below 105.29/31 would risk weakness to 105.05/10 before prospect of another bounce.

All eyes are on U.S. jobs data due out at 12:30GMT, on NFP, street forecast is for an increase of 1.6 million vs prev. reading of 4.8 million whilst unemployment rate is estimated to be 10.5% vs last reading of 11.1%.

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AceTraderFx Aug10: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 10 Aug 2020 09:30GMT

USD/JPY - 105.96

As dollar has rebounded after retreat from 106.05 in post-NFP New York Friday to 105.73 in Asia today, suggesting pullback from last Monday's 106.47 high has possibly ended at 105.31 Thursday, above 106.19 would confirm and bring re-test of 106.47, where break would extend upmove from July's 4-1/2 month bottom at 104.19 to 106.65, then 106.85/90.

On the downside, only below 105.49 would risk stronger retracement to 105.31/33.

Data out today :
New Zealand ANZ business outlook, ANZ own activity, China PPI, CPI.
Swiss unemployment rate, EU Sentix index.
Canada leading index and U.S. JOLTS job openings on Monday.

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

DAILY MARKET OUTLOOK on Major

Update Time: 11 Aug 2020 09:30GMT

USD/JPY - 106.11
Despite dollar's retreat from August's high at 106.47 to 105.31 last Thursday, subsequent erratic rise and intra-day break of 106.19 resistance suggests pullback has ended and above 106.47 would extend upmove from July's 4-1/2 month bottom at 104.19 to 106.65/70, however, loss of momentum may cap price below 106.90/00 today.

On the downside, only below 105.49/52 would risk weakness to 105.31/33.

Data to be released on Tuesday :
New Zealand retail sales, Japan current account, trade balance, Economy Watchers outlook, Economy Watchers current, machine tool orders, Australia NAB business condition, NAB business confidence.
UK BRC retail sales, claimant count, ILO unemployment rate, employment change, average weekly earnings, , Germany ZEW economic sentiment, ZEW current conditions, EU ZEW survey expectations.
Canada housing starts, and U.S. PPI, core PPI, redbook.

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AceTraderFx Aug 12: Intra-Day News and Views & data to be released today- EUR/USD

Intra-Day Market Moving News and Views

Update Time: 12 Aug 2020 05:30GMT

EUR/USD - 1.1720... The single currency traded with a firm bias after falling to 1.1723 in Asia and gained to 1.1756 at European open before jumping to an intra-day high at 1.1807 in European morning. However, the pair met renewed selling there and tumbled to 1.1729 in late New York on usd's broad-based strength, then lower to 1.1717 in Asia today.

Euro's intra-day break below yesterday's low at 1.1723 signals decline from last Thursday's fresh 2-year peak at 1.1915 remains in progress and further weakness to 1.1697, then 1.1683 would be seen before prospect of rebound.
Offers are now seen at 1.1740/50 and more above at 1.1760/70 with stops building up above there whilst initial bids are noted at 1.1670/80.

Pay attention to the release of EU industrial production at 09:00GMT. Street forecasts for mm and yy are 10.0% and -11.5% vs previous readings of 12.4% and -20.9% respectively.

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