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

acetraderfx

AceTrader.com Representative
Messages
1,109
AceTraderFx Dec 28: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 28 Dec 2020 09:30GMT

USD/JPY - 103.42
Although dollar's retreat from last Thursday's high at 103.76 suggests further choppy trading inside recent range of 102.88-103.88 would continue with mild downside bias and marginal weakness is likely to be seen, reckon 103.10/20 would remain intact and yield another rebound, above 103.88 is needed to yield stronger retracement of recent fall to 104.14 later this week.

On the downside, only below 102.88 would revive bearishness for stronger weakness to 102.40/50, then 101.90/00 before prospect of rebound.

U.S. markets are open later today n eco. calendar is pretty thin with Dallas Fed mfg business index the only dat due out at 15:30GMT.

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 Dec 29: Daily Recommendatioons on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 29 Dec 2020 09:30GMT

USD/JPY - 103.61
Despite the greenback's 1-tick break above last Monday's high at 103.88 to 103.89 yesterday, subsequent retreat suggests correction from December's 9-month bottom at 102.88 has possibly ended there and consolidation with downside bias would be seen for weakness to 103.26, below would confirm this view and yield re-test of aforesaid low later this week.

On the upside, only above 103.89 would dampen daily bearishness and risk stronger retracement of Medium Term decline to 104.10/14.

On the data front, U.S. will later release some second-tier eco. indicators (please refer to our EI page for details).

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 Dec 30: Daily Recommendatioons on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 30 Dec 2020 09:30GMT

USD/JPY - 103.33
Despite the greenback's 1-tick break above last Monday's high at 103.88 to 103.89 Monday, subsequent retreat suggests correction from December's 9-month bottom at 102.88 has possibly ended there and consolidation with downside bias would be seen for weakness to 103.26, below would confirm this view and yield re-test of aforesaid low later this week.

On the upside, only above 103.89 would dampen daily bearishness and risk stronger retracement of Medium Term decline to 104.10/14.

U.S. will later release a slew of economic data in NY morning, pls refer to our Economic Indicator page for details.

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 Dec 31: Daily Recommendatioons on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 31 Dec 2020 09:30GMT

USD/JPY - 103.13
Despite the greenback's 1-tick break above last Monday's high at 103.88 to 103.89 Monday, subsequent retreat to 102.97 yesterday on usd's broad-based weakness suggests correction from December's 9-month bottom at 102.88 has ended there and consolidation with downside bias would be seen for a re-test of said support, break would extend Medium Term4 decline to 102.50/60 before prospect of rebound.

On the upside, only above 103.89 would dampen daily bearishness and risk stronger retracement of MT decline to 104.10/14.

On the last trading day of this pandemic 2020 year, U.S. will later release the usual weekly jobless claims, continued jobless claims which may move price a bit if actual readings deviate greatly from street forecast, however, market's mentality is to sell dlr on rebound.

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 Jan 04: Daily Recommendatioons on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 04 Jan 2021 09:30GMT

USD/JPY - 102.88
The greenback's intra-day break below December's 9-month trough at 102.88 signals MT decline has once again resumed and consolidation with downside bias remains for stronger retracement to 102.50/60, however, support at 102.17/20 should remain intact due to oversold condition and yield a much-needed correction later this week.

On the upside, only above 103.31/35 would indicate a temporary low has been made and risk stronger retracement to 103.50/60.

U.S. will release its final reading of December's manufacturing PMI at 14:45GMT. Elsewhere, Atlanta Fed President Raphael Bostic is scheduled to speak on the economic impacts of Covid-19 before the ASSA virtual annual meeting at 15:00GMT whereas Chicago Fed President Charles Evans will talk about economic prospects and policies after Covid-19 at the same event.

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 Jan 05: Daily Recommendatioons on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 05 Jan 2021 09:30GMT
USD/JPY - 102.94
The greenback's break below December's 9-month trough at 102.88 to 102.72 yesterday signals MT decline has once again resumed and consolidation with downside bias remains for stronger retracement to 102.50/60, however, support at 102.17/20 should remain intact due to over sold condition and yield a much-needed correction later this week.

On the upside, only above 103.31/35 would indicate a temporary low has been made and risk stronger retracement to 103.50/60.

Data to be released on Tuesday :
Australia ANZ job advertisements, New Zealand GDT price index.
Italy market holiday, Germany retail sales, unemployment change, unemployment rate, Swiss CPI, .
Canada producer prices, and U.S. redbook, ISM New York index, ISM manufacturing 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

AceTrader.com Representative
Messages
1,109
AceTraderFx Jan 06: Daily Recommendatioons on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 06 Jan 2021 09:30GMT

USD/JPY - 102.77
The greenback's intra-day break below yesterday's 9-1/2 month trough at 102.60 signals MT decline has once again resumed and consolidation with downside bias remains for stronger retracement to 102.40/50, however, support at 102.17/20 should remain intact due to over sold condition and yield a much-needed correction later this week.

On the upside, only above 103.31/35 would indicate a temporary low has been made and risk stronger retracement to 103.50/60.

There is a slew of data due from U.S. today but one should pay particular attention to the ADP employment at 13:15GMT. Street forecasts are 88k, down from previous reading of 307k. The Federal Reserve is scheduled to release its FOMC minutes from its previous meeting.

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 Jan 07: Daily Recommendatioons on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 07 Jan 2021 09:30GMT

USD/JPY - 103.39
Despite the greenback's fall to a fresh 9-1/2 month trough at 102.60, subsequent rally to 103.44 yesterday suggests recent decline has made a temporary low there and as price has rebounded again after a brief retreat to 102.95 near New York close, bullishness is retained and above 103.44 would yield stronger retracement to 103.70/75 before prospect of retreat.

On the downside, only below 102.95 would indicate aforesaid recovery has ended instead and risk re-test of 102.60 later.

Pay attention to the release of US jobless claims at 13:30GMT and ISM non-manufacturing PMI at 15:00GMT. Street forecasts are 800k and 54.7 vs previous readings of 787k and 55.9 previously.

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 Jan 08: Daily Recommendatioons on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 08 Jan 2021 09:30GMT

USD/JPY - 103.94
Despite the greenback's fall to a fresh 9-1/2 month trough at 102.60 on Wednesday, subsequent rally to 103.95 yesterday and intra-day break above this level suggests recent decline has made a temporary low there and consolidation with upside bias remains for stronger gain to 104.14/20 would be seen before prospect of a much-needed retreat due to overbought condition.

On the downside, only below 103.44 would indicate aforesaid recovery has ended instead and risk weakness to 103.20/25.

Market focus today is on release of U.S. jobs report at 13:30GMT.
Street forecasts for non-farm payrolls and average earnings mm are 71k and 0.2% vs previous readings of 245k and 0.3% 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 Jan 11: Daily Recommendatioons on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 11 Jan 2021 09:30GMT

USD/JPY - 104.11
Despite dollar's pullback from 104.08 to 103.61 in post-NFP Friday, subsequent rebound and intra-day break above said resistance to a near 1-month 104.21 high in Asia on renewed usd's strength suggests upmove from January's 9-1/2 month 102.60 trough has resumed and would extend to 104.53/57 after consolidation but 104.75 should limit upside.

On the downside, only below 103.61 would risk stronger retracement to 103.40/44, then 103.20/25.

U.S. calendar is empty today following Friday's blockbuster jobs report, however, we have Atlanta Fed President Bostic speaking in later New York session at 17:00GMT.

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