AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

AceTraderFx Feb 09: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 09 Feb 2021 09:30GMT

USD/JPY - 104.77
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 on Tuesday :
New Zealand inflation forecast.
UK BRC retail sales, Australia NAB business conditions, NAB business confidence, Germany exports, imports, trade balance, current account, Italy industrial output.
U.S. redbook, JOLTS job openings.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 10 Feb 2021 09:30GMT

USD/JPY - 104.57
Despite the greenback's rally to a 16-week peak at 105.76 last Friday, subsequent selloff to 104.51 yesterday due to return or risk sentiment on rally in global equities suggests upmove from January's 9-1/2 month bottom at 102.60 has made a temporary top there and consolidation with downside bias remains for stronger retracement to 104.10, however, oversold condition would keep price above 103.80/90 and yield a rebound later.

On the upside, only above 105.16 would indicate aforesaid correction has ended and risk gain to 105.34, then 105.45/50 later this week.

U.S. will release a slew of eco. data later today, please refer to our EI page for details. Also pay attention to Fed President J. Powell speech at 17:00GMT at Economic Club of New York where he will speak on "State of the U.S. labor Market" and may shed more light on future Fed's monetary policy.

AceTrader - Best Intra-day Forex Trading Strategies
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AceTraderFx Feb 11: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 11 Feb 2021 09:30GMT

USD/JPY - 104.64
Despite the greenback's rally to a 16-week peak at 105.76 last Friday, subsequent selloff to 104.42 yesterday due to return or risk sentiment on rally in global equities suggests upmove from January's 9-1/2 month bottom at 102.60 has made a temporary top there and consolidation with downside bias remains for stronger retracement to 104.10, however, oversold condition would keep price above 103.80/90 and yield a rebound later.

On the upside, only above 105.16 would indicate aforesaid correction has ended and risk gain to 105.34, then 105.45/50 later this week.

On the data front, U.S. will release weekly jobless claims n continued jobless claims at 13:30GMT.
U.S. will release a slew of eco. data later today, please refer to our EI page for details. Also pay attention to Fed President J. Powell speech at 17:00GMT at Economic Club of New York where he will speak on "State of the U.S. labor Market" and may shed more light on future Fed's monetary policy.

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 Feb 16: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 16 Feb 2021 09:30GMT

USD/JPY - 105.36
Despite the greenback's selloff from February's 16-week peak at 105.76 to as low as 104.42 last Wednesday on usd's continued weakness due to rise in US stocks, subsequent strong rebound to 105.63 today suggests the pullback has possibly ended and consolidation with upside bias remains for a re-test of aforesaid resistance, break would extend to 105.90/00.

On the downside, only below 104.42 would revive bearishness for stronger retracement of upmove from January's 9-1/2 month bottom at 102.60 to 104.18.

U.S. markets will re-open after Monday's holiday, the only eco. data due out is New York Fed mfg index at 13:30GMT.
We have a number of fed officials scheduled to speak later today, please refer to our EI page for details.

AceTrader - Best Intra-day Forex Trading Strategies
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AceTraderFx Feb 17: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 17 Feb 2021 09:30GMT

USD/JPY - 105.94
The greenback's rise above February's 16-week peak 105.76 to 106.22 ahead of Asian open today on usd's continued strength suggests upmove from January's 9-1/2 month bottom at 102.60 has once again resumed and further gain to 106.40/50 would be seen after consolidation, however, over bought condition would keep price below 106.60/70 and yield correction.

On the downside, only below 105.41 would indicate a temporary top has been made and risk stronger retracement to 105.19, then 104.80/84.

Data to be released on Wednesday :
Australia Westpac leading index, Japan machinery orders, exports, imports, trade balance, China market holiday
UK core CPI, CPI, RPI, core RPI, PPI input prices, PPI output prices, PPI core output, DCLG house price index, EU construction output.
U.S. MBA mortgage applications, PPI, core PPI, retail sales, retail sales ex-autos, redbook, industrial production, capacity utilization, manufacturing output, business inventories, NAHB housing market index, and Canada CPI, core CPI.


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AceTraderFx Feb 18: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 18 Feb 2021 09:30GMT

USD/JPY - 105.79
The greenback's rise above February's 16-week peak 105.76 to 106.22 ahead of Asian open yesterday on usd's continued strength suggests upmove from January's 9-1/2 month bottom at 102.60 has once again resumed and further gain to 106.40/50 would be seen after consolidation.
However, overbought condition would keep price below 106.60/70 and yield correction.

On the downside, only below 105.41 would indicate a temporary top has been made and risk stronger retracement to 105.19, then 104.80/84.

Data to be released on Thursday :
Australia employment change, unemployment rate.
Swiss trade balance, exports, imports.
U.S. building permits, housing starts, import prices, export prices, initial jobless claims, continued jobless claims, Philadelphia Fed manufacturing index, Canada ADP employment change, new housing price index, and EU consumer confidence.

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 Feb 19: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 19 Feb 2021 09:30GMT

USD/JPY - 105.62
Despite dollar's resumption of upmove from January's 9-1/2 month low at 102.60 to a 5-month high of 106.22 on Wednesday, subsequent retreat in tandem with U.S. Treasury yields suggests temporary top is made and choppy sideways swings would be seen, however, reckon 105.41 would contain downside and yield another rise to 106.50/55.

On the downside, only below 105.41 risks weakness to 105.18/19 before prospect of rebound.

Data to be released on Friday :
New Zealand PPI inputs, PPI outputs, Australia manufacturing PMI, services PMI, retail sales, Japan nationwide core CPI, nationwide CPI, Jibun Bank manufacturing PMI.
UK GfK consumer confidence, PSNB, PSNCR, retail sales, retail sales ex-fuel, Markit manufacturing PMI, Markit services PMI, Swiss industrial production, France CPI (EU norm), CPI, Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, Italy CPI, CPI (EU norm), EU current account, Markit manufacturing PMI, Markit services PMI.
Canada retail sales, retail sales ex-autos, and U.S. Markit manufacturing PMI, Markit services PMI, existing home 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 Feb 22: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 22 Feb 2021 09:30GMT

USD/JPY - 105.76
Although dollar's fall from last Wednesday's 5-month high at 106.22 to 105.25 Friday suggests upmove from January's 9-1/2 month trough of 102.60 has made a temporary top, subsequent rebound to 105.66, then intra-day break there on rise in U.S. yields signals pullback has possibly ended, above 105.92 would confirm and bring re-test of 106.22

On the downside, only below 105.25 risks weakness to 104.84/88, however, reckon 104.42 should remain intact.

Data to be released later:
Germany Ifo business climate, Ifo current conditions, Ifo expectations.
U.S. national activity index, leading index change, Dallas Fed manufacturing business index 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 Feb 23: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major

Update Time: 23 Feb 2021 09:30GMT

USD/JPY - 105.14
Although dollar's fall from last Wednesday's 5-month high at 106.22 to 104.99 yesterday, then 104.93 today suggests upmove from January's 9-1/2 month trough of 102.60 has made a temporary top, subsequent rebound signals pullback has possibly ended, above 105.92 would confirm and bring re-test of 106.22

On the downside, only below 105.93 risks weakness to 104.84/88, however, reckon 104.42 should remain intact.

U.S. will later release a slew of U.S. eco. data (please refer to EI page for details).
Last but not the least, Fed Chairman J. Powell will testify on the Semiannual Monetary Report to Congress before the Senate Banking Committee at 15:00GMT.

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
 
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