AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

[acetraderfx]

AceTraderFx Feb 24: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 24 Feb 2021 09:30GMT

USD/JPY - 105.58
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.

On the data front, the only data due out is U.S. new home sales. Pay attention to comments by Fed Chair J. Powell when he tesitifies in the second day of his 2-day appearance b4 the Senate.
As market has already reacted to his dovish comments yesterday, beware of usd's buying on short covering in other G7 currencies later today. We also have a no. of Fed officials scheduled to speak (please refer to our EI page for details) but Powell will take centre stage.

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[acetraderfx]

AceTraderFx Feb 25: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 25 Feb 2021 09:30GMT

USD/JPY - 106.12
Despite the greenback's selloff from February's 5-month peak at 106.22 to 104.93 on Tuesday on usd's continued weakness, subsequent strong rebound to 106.10 yesterday and intra-day break above there on active cross-selling in jpy suggests the correction has ended and consolidation with upside bias remains for a re-test of aforesaid resistance, break would extend upmove from January's bottom at 102.60 to 106.55/60 later.

On the downside, only below 105.42 would indicate a temporary top has been made and risk stronger retracement to 105.07/10 later.

U.S. will later release a slew of eco. data, pls refer to our EI page for details n pay attention to key GDP as well as weekly jobless claims. We also have a number of Fed officials scheduled to speak in NY session.

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[acetraderfx]

AceTraderFx Feb 26: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 26 Feb 2021 09:30GMT

USD/JPY - 106.03
The greenback's rise above previous February's 5-month peak 106.22 to 106.42 in Asia today on usd's renewed strength suggests upmove from January's 9-1/2 month bottom at 102.60 remains in progress and further gain to 106.70/75 would be seen after consolidation, however, loss of momentum would keep price below 106.90/00 and yield a correction later this week.

On the downside, only below 105.42 would indicate a temporary top has been made and risk stronger retracement to 104.90/93.

Data to be released on Friday :
Germany import prices, UK nationwide house price, Swiss non-farm payrolls, GDP, KOF indicator, France consumer spending, GDP, CPI (EU norm), CPI, Italy trade balance, producer prices.
U.S. personal income, personal spending, core PCE price index, PCE price index, trade balance, wholesale inventories, Chicago PMI, University of Michigan sentiment, and Canada producer prices, budget balance.

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[rossprid90]

AceTraderFx Feb 26: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 26 Feb 2021 09:30GMT

USD/JPY - 106.03
The greenback's rise above previous February's 5-month peak 106.22 to 106.42 in Asia today on usd's renewed strength suggests upmove from January's 9-1/2 month bottom at 102.60 remains in progress and further gain to 106.70/75 would be seen after consolidation, however, loss of momentum would keep price below 106.90/00 and yield a correction later this week.

On the downside, only below 105.42 would indicate a temporary top has been made and risk stronger retracement to 104.90/93.

Data to be released on Friday :
Germany import prices, UK nationwide house price, Swiss non-farm payrolls, GDP, KOF indicator, France consumer spending, GDP, CPI (EU norm), CPI, Italy trade balance, producer prices.
U.S. personal income, personal spending, core PCE price index, PCE price index, trade balance, wholesale inventories, Chicago PMI, University of Michigan sentiment, and Canada producer prices, budget balance.

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Got my eye on this pair, really appreciate you sharing this.
Keen to see where things go over the next few days!

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 01 Mar 2021 09:30GMT

USD/JPY - 106.59
The greenback's rise above previous February's 5-month peak 106.22 to 106.69 in New York on Friday on usd's renewed strength suggests upmove from January's 9-1/2 month bottom at 102.60 remains in progress and further gain to 106.95/00 would be seen after consolidation, however, loss of momentum would keep price below 107.10/20 and yield a correction later this week.

On the downside, only below 105.42 would indicate a temporary top has been made and risk stronger retracement to 104.90/93.

The U.S. will release a slew of eco. data during NY morning session (pls refer to EI page for details) n pay attention to mfg n non-mfg PMI. We also have a number of Fed officials scheduled to speak later today.

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[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 02 Mar 2021 09:30GMT

USD/JPY - 106.86
The greenback's rise above previous February's 5-month peak 106.22 to 106.88 yesterday on usd's renewed strength and intra-day break above there suggests upmove from January's 9-1/2 month bottom at 102.60 remains in progress and further gain to 107.20/30 would be seen after consolidation, however, loss of momentum would keep price below 107.40/50 and yield a correction later this week.

On the downside, only below 105.42 would indicate a temporary top has been made and risk stronger retracement to 104.90/93.

Data to be released on Tuesday :
New Zealand terms of trade, import prices, export prices, GDT price index, Japan unemployment rate, business capex, Australia building permits, current account, net exports contribution, RBA interest rate decision.
Germany retail sales, unemployment change, unemployment rate, UK nationwide house price index, EU HICP, core HICP.
Canada GDP, and U.S. redbook, ISM New York index.

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AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

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

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

USD/JPY - 106.90
The greenback's rise above previous February's 5-month peak 106.22 to 106.88 Monday on usd's renewed strength, then to 106.95 yesterday suggests upmove from January's 9-1/2 month bottom at 102.60 remains in progress and further gain to 107.20/30 would be seen after consolidation, however, loss of momentum would keep price below 107.40/50 and yield a correction later this week.

On the downside, only below 105.42 would indicate a temporary top has been made and risk stronger retracement to 104.90/93.

Data to be released on Wednesday :
UK BRC shop price index, Markit services PMI, Japan services PMI, China Caixin services PMI, Swiss CPI, France budget balance, Markit services PMI, Italy Markit services PMI, GDP, Germany Markit services PMI, EU Markit services PMI, producer price index.
U.S. MBA mortgage applications, ADP employment change, Markit services PMI, ISM non-manufacturing PMI, and Canada building permits.

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[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 04 Mar 2021 09:30GMT

USD/JPY - 107.19
The greenback's rise above previous February's 5-month peak 106.22 to 107.15 on Wednesday on usd's renewed strength, and intra-day break above there suggests upmove from January's 9-1/2 month bottom at 102.60 remains in progress and further gain to 107.30/40 would be seen after consolidation, however, loss of momentum would keep price below 107.50/60 and yield a correction later this week.

On the downside, only below 106.68 would indicate a temporary top has been made and risk stronger retracement to 105.85/90 later.

Data to be released on Thursday :
UK Markit construction PMI, EU retail sales, unemployment rate.
Canada labor productivity and U.S. initial jobless claims, continued jobless claims, labor costs, productivity, durables ex-defense, durable goods, factory orders, durables ex-transport

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AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 05 Mar 2021 09:30GMT

USD/JPY - 108.45
The greenback's rise above previous Thursday's 7-month peak 107.98 to 108.52 today on usd's continued strength following comments from Fed Chair Powell suggests upmove from January's 9-1/2 month bottom at 102.60 remains in progress and further gain to 108.50/60 would be seen after consolidation, however, loss of momentum would keep price below 108.70 and yield a correction later this week.

On the downside, only below 107.158 would indicate a temporary top has been made and risk stronger retracement to 106.68 later.

Data to be released on Friday :
Germany industrial orders, France current account, trade balance, imports, exports, UK Halifax house price index, Italy retail sales.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, trade balance, and Canada trade balance, exports, imports, Ivey PMI.

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AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 08 Mar 2021 09:30GMT

USD/JPY - 108.49
The greenback's rise above previous Thursday's 7-month peak 107.98 to 108.64 on Friday following release of robust U.S. jobs report suggests upmove from January's 9-1/2 month bottom at 102.60 remains in progress and further gain to 108.80/85 would be seen after consolidation, however, loss of momentum would keep price below 109.00 and yield a correction later this week.

On the downside, only below 107.15 would indicate a temporary top has been made and risk stronger retracement to 106.68 later.

Data to be released today:
Japan current account, trade balance, coincident index, leading indicator, Economy Watchers outlook, Economy Watchers current, China exports, imports, trade balance.
Swiss unemployment rate, Germany industrial output, EU Sentix index, Canada leading index, housing starts.
U.S. wholesale inventory, wholesale sales on Monday.

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AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates