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

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AceTraderFx Jan 26: Daily Recommendatioons on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 26 Jan 2021 09:30GMT

USD/JPY - 103.77
Despite the greenback's break below previous support at 103.53 to 103.33 last Thursday due to a drop in U.S. Treasury yields, subsequent stronger-than-expected rebound on risk-averse buying in usd to 103.93 yesterday suggests decline from last Monday's 4-week peak at 104.39 has made a temporary low there and consolidation with upside bias remains for retracement to 104.08/10.

On the downside, only below 103.33 would revive bearishness for weakness to 102.95/00 but December's 9-1/2 month bottom at 102.60 should hold on 1st testing.

Data to be released on Tuesday :
Australia market holiday.
UK claimant count, ILO unemployment rate, employment change, average weekly earnings, CBI distributive trades.
U.S. redbook, monthly home price, Case-Shiller home price index, Richmond Fed manufacturing index.

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AceTraderFx Jan 27: Daily Recommendatioons on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 27 Jan 2021 09:30GMT

USD/JPY - 103.72
Despite the greenback's break below previous support at 103.53 to 103.33 last Thursday due to a drop in U.S. Treasury yields, subsequent stronger-than-expected rebound on risk-averse buying in usd to 103.93 Monday suggests decline from last Monday's 4-week peak at 104.39 has made a temporary low there and consolidation with upside bias remains for retracement to 104.08/10.

On the downside, only below 103.33 would revive bearishness for weakness to 102.95/00 but December's 9-1/2 month bottom at 102.60 should hold on 1st testing.

Data to be released on Wednesday :
Australia Westpac leading index, NAB business conditions, NAB business confidence, CPI, Japan coincident index, leading economic index.
Germany GfK consumer sentiment, France consumer confidence, Swiss investor sentiment.
U.S. MBA mortgage applications, durable goods, durables ex-transportation, durables ex-defense, Fed interest rate decision.

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AceTraderFx Jan 28: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 28 Jan 2021 09:30GMT

USD/JPY - 104.33
Despite the greenback's break below previous support at 103.53 to 103.33 last Thursday due to a drop in U.S. Treasury yields, subsequent rally to 103.93 Monday on risk-averse buying in usd to 103.93 Monday and yesterday's break above this level to 104.36 today confirms decline from last Monday's 4-week peak at 104.39 has ended and re-test of said resistance would be seen.

On the downside, only below 103.33 would revive bearishness for weakness to 102.95/00 but December's 9-1/2 month bottom at 102.60 should hold on 1st testing.

Data to be released on Thursday :
New Zealand imports, trade balance, exports, Japan retail sales, Australia export prices, import prices.
Swiss trade balance, exports, imports, Italy business confidence, consumer confidence, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP.
U.S. building permits, GDP, GDP deflator, core PCE price index, PCE price index, trade balance, wholesale inventories, initial jobless claims, continued jobless claims, leading index, new home sales, KC Fed manufacturing index.
Canada building permits, average weekly earnings.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 29 Jan 2021 09:30GMT

USD/JPY - 104.57

The greenback's rise to a 1-1/2 month peak at 104.46 yesterday and intra-day break above there on risk-averse buying of usd due to fall in U.S. stock futures suggests upmove from January's 9-1/2 month bottom at 102.60 has once again resumed and further gain to 104.75/80 would be seen, however, 105.13 should limit upside due to loss of upward momentum and yield retreat.

On the downside, only below 103.93 would indicate a temporary top has been made and risk stronger retracement to 103.56 early next week.

Data to be released on Friday :
Japan Tokyo core CPI, Tokyo CPI, unemployment rate, industrial output, consumer confidence, construction orders, housing starts, Australia PPI.
France consumer spending, GDP, producer prices, Germany import prices, unemployment change, unemployment rate, GDP, Swiss KOF indicator, Italy producer prices.
Canada GDP, producer prices, budget balance and U.S. employment wages, employment costs, personal income, personal spending, core PCE price index, PCE price index, Chicago PMI, University of Michigan sentiment, pending home sales.

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AceTraderFx Feb 01: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 01 Feb 2021 09:30GMT

USD/JPY - 104.87
The greenback's rise to a near 2-1/2 month peak at 104.94 last Friday on active risk-averse buying of usd due to fall in U.S. stock futures suggests upmove from January's 9-1/2 month bottom at 102.60 has once again resumed and further gain to 105.13 would be seen, however, 105.47 should limit upside due to loss of upward momentum and yield retreat.

On the downside, only below 103.93 would indicate a temporary top has been made and risk stronger retracement to 103.56 later this week.

Data to be released today :
Australia AIG manufacturing index, ANZ job advertisements, Japan Jibun Bank manufacturing PMI, China Caixin manufacturing PMI.
Germany retail sales, Markit manufacturing PMI Swiss retail sales, manufacturing PMI, France budget Markit manufacturing PMI, Italy Markit manufacturing PMI, unemployment rate, EU Markit manufacturing PMI, unemployment rate, UK Markit manufacturing PMI.
Canada Markit manufacturing PMI, and U.S. labor costs, productivity, Markit manufacturing PMI, construction spending, ISM manufacturing PMI on Monday.

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acetraderfx

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

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DAILY MARKET OUTLOOK on Major

Update Time: 02 Feb 2021 09:30GMT

USD/JPY - 104.92
The greenback's rise to a near 2-1/2 month peak at 105.03 yesterday on active risk-averse buying of usd due to fall in U.S. stock futures suggests upmove from January's 9-1/2 month bottom at 102.60 has once again resumed and further gain to 105.47 would be seen, however, 105.67 should limit upside due to loss of upward momentum and yield retreat.

On the downside, only below 104.62 would indicate a temporary top has been made and risk stronger retracement to 103.93 later this week.

U.S. will release a slew of eco. data later today as well 3 Fed officials scheduled to speak in New York afternoon (please see EI section for details).

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

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DAILY MARKET OUTLOOK on Major

Update Time: 03 Feb 2021 09:30GMT

DAILY MARKET OUTLOOK on Major
Update Time: 03 Feb 2021 09:30GMT

USD/JPY - 105.04
The greenback's rise to an 11-week peak at 105.17 yesterday on usd's continued strength suggests upmove from January's 9-1/2 month bottom at 102.60 would head to resistance at 105.47 after consolidation, however, daily resistance at 105.67 would limit upside due to loss of momentum and yield a much-needed correction later this week.

On the downside, only a daily close below 104.62 would indicate a temporary top has been made and risk stronger retracement to 104.18/20.

U.S. will release a slew of eco. data, pay attention to ADP private payrolls n services PMI.
Again, a number of Fed officials are scheduled to speak later today, please refer to our EI page for details.

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acetraderfx

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

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DAILY MARKET OUTLOOK on Major

Update Time: 04 Feb 2021 09:30GMT

USD/JPY - 105.17
The greenback's rise to an 11-week peak at 105.17 on Tuesday and intra-day break above this level on usd's continued strength suggests upmove from January's 9-1/2 month bottom at 102.60 would head to resistance at 105.47 after consolidation, however, daily resistance at 105.67 would limit upside due to loss of momentum and yield a much-needed correction later this week.

On the downside, only a daily close below 104.62 would indicate a temporary top has been made and risk stronger retracement to 104.18/20.

Data to be released on Thursday :
New Zealand building permits, Australia trade balance, imports, exports.
Swiss consumer confidence, UK Markit construction PMI, BoE interest rate decision, BoE asset purchase programme, BoE QE total, BoE QE corporate bond purchases, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPC vote cut, EU retail sales.
U.S. initial jobless claims, continued jobless claims, labor costs, productivity, durables ex-defense, durable goods, factory orders, durables ex-transportation,.

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acetraderfx

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AceTraderFx Feb 05: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 05 Feb 2021 09:30GMT

USD/JPY - 105.42
The greenback's rise to a fresh 11-week peak at 105.64 at Asian open today on usd's continued strength suggests upmove from January's 9-1/2 month bottom at 102.60 would head to resistance at 106.10 after consolidation, however, daily resistance at 106.55 would limit upside due to loss of momentum and yield a much-needed correction later this week.

On the downside, only a daily close below 104.62 would indicate a temporary top has been made and risk stronger retracement to 104.18/20.

Data to be released on Friday :
Australia AIG services index, retail sales, Japan all household spending, coincident index, leading economic index.
Germany industrial orders, France current account, non-farm payrolls, trade balance, imports, exports, UK Halifax house price, Italy retail sales, U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, trade balance, and Canada employment change, unemployment rate, trade balance, exports, imports, Ivey PMI.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 08 Feb 2021 09:30GMT

USD/JPY - 105.59
The greenback's rise to a fresh 11-week peak at 105.76 at New York open on Friday due to usd's continued strength suggests upmove from January's 9-1/2 month bottom at 102.60 would head to resistance at 106.10 after consolidation, however, daily resistance at 106.55 would limit upside due to loss of momentum and yield a much-needed correction later this week.

On the downside, only a daily close below 104.62 would indicate a temporary top has been made and risk stronger retracement to 104.18/20.

Data to be released today :
New Zealand market holiday, Japan current account, trade balance, Economy Watchers outlook, Economy Watchers current.
Swiss unemployment rate, Germany industrial output, EU Sentix index.
Canada leading index on Monday.

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