AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

[acetraderfx]

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

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

USD/JPY - 108.76
Despite dollar's strong rebound from 108.58 last Wednesday to 109.30 on Thursday due to hawkish Fed minutes, subsequent fall to 108.61 on Friday there suggests decline from May's 1-month 109.78 peak would resume and extend marginally, however, oversold condition should prevent steep fall below 108.35/36 and yield another bounce.

On the upside, above 108.89 (Asia) would risk stronger retracement to 109.05/10 but 109.30/33 should cap upside.

Data to be released next week :
New Zealand retail sales on Monday.
Market holidays in Germany, France and Switzerland.

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 update

 

[acetraderfx]

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

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

USD/JPY - 108.74
Although the greenback's intra-day break below last Wednesday's low at 108.58 signals decline from May's 1-month peak at 109.78 has once again resumed and marginal weakness is like to be seen, near term loss of momentum would keep price above daily support at 108.35 and yield a much-needed rebound later this week.

On the downside, only a daily close below 108.35 would bring stronger retracement of upmove from 107.49 (April) to 107.90/00.

U.S. will later release a slew of eco. data, please refer to our EI page for detail.
We also have a number of Fed officials scheduled to speak in New York morning session.

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 update

 

[acetraderfx]

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

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

USD/JPY - 108.84
Although the greenback's intra-day break below last Wednesday's low at 108.58 signals decline from May's 1-month peak at 109.78 has once again resumed and marginal weakness is like to be seen, near term loss of momentum would keep price above daily support at 108.35 and yield a much-needed rebound later this week.

On the downside, only a daily close below 108.35 would bring stronger retracement of upmove from 107.49 (April) to 107.90/00.

On the U.S. data front, the only data due out is MBA mortgage applications.
We also have a number Fed officials scheduled to speak in New York session (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 update

 

[acetraderfx]

AceTraderFx May 27: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 27 May 2021 09:30GMT

USD/JPY - 109.10
Despite the greenback's 1-tick break below last Wednesday's low at 108.58 on Tuesday, subsequent rally to 109.20 in Asia today signals decline from May's 1-month peak at 109.78 has made a temporary low there and consolidation with upside bias remains for gain to 109.30/33, then 109.50, however, near term loss of momentum would keep price below aforesaid top.

On the downside, only below 108.71 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness to 108.57.

We have data dump in the U.S. later today, please refer to our EI page for details.
Pay attention to release of PCE n core PCE, GDP adn weekly jobless claims, if actual readings come in stronger than street forecast, the greenback would gain further.

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 update

 

[acetraderfx]

AceTraderFx May 28: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 28 May 2021 09:30GMT

USD/JPY - 109.86
The greenback's rally yesterday in tandem with U.S. Treasury yields and break above previous May's 1-month peak at 109.78 to 109.95 today suggests erratic upmove from April's bottom at 107.49 has once again resumed and further gain to 110.25/30 would be seen after consolidation, however, over bought condition would keep price below 110.50/60 and yield a much-needed correction early next week.

On the downside, only below 109.33 would indicate a temporary top has been made and risk stronger retracement to 108.90/00 before prospect of a rebound.

Data to be released on Friday:
Japan Tokyo CPI, unemployment rate, construction orders.
Germany import prices, France consumer spending, GDP, CPI, producer prices, Swiss KOF indicators, Italy producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence.
U.S. personal income, personal spending, PCE price, trade balance, wholesale inventories, Chicago PMI, University of Michigan sentiment, Canada budget balance.

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 update

 

[Forexathome]

Great rundown. I can see weakness in the yen today.

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 31 May 2021 09:30GMT

USD/JPY - 109.69
Dollar's erratic rise from April's 107.49 low to a 6-week high at 110.20 on Friday suggests decline from March's 1-year 110.96 peak has made a temporary bottom and subsequent retreat would bring choppy sideways swings before prospect of another rise to 110.50/55 but 110.96 should hold today.

On the downside, only below 109.30/33 risks retracement to 109.04 (Thursday's low), break, 108.71/76.

Data to be released today:
Australia market holiday, Japan industrial order, industrial output, retail sales, consumer confidence, housing starts, China NBS manufacturing PMI, New Zealand NBNZ business outlook, NBNZ outlook activity.
UK market holiday, Italy CPI, Germany CPI, HICP.
Canada current account, producer prices and U.S. market holiday 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 update

 

[acetraderfx]

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

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

USD/JPY - 109.60
Dollar's erratic rise from April's 107.49 low to a 6-week high at 110.20 on Friday suggests decline from March's 1-year 110.96 peak has made a temporary bottom and subsequent retreat would bring choppy sideways swings before prospect of another rise to 110.50/55 but 110.96 should hold today.

On the downside, only below 109.30/33 risks retracement to 109.04 (Thursday's low), break, 108.71/76.

Data to be released on Tuesday :
UK nationwide house price, Markit manufacturing PMI, Swiss retail sales, GDP, manufacturing PMI, Italy Markit manufacturing PMI, unemployment rate, GDP, France Markit manufacturing PMI, Germany Markit manufacturing PMI, unemployment change, unemployment rate, EU Markit manufacturing PMI, HICP, core HICP.
Canada GDP, Markit manufacturing PMI, and U.S. Markit manufacturing PMI, construction spending, ISM manufacturing PMI, Dallas Fed manufacturing business index on Tuesday.

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 update

 

[acetraderfx]

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

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

USD/JPY - 109.80
Despite the greenback's fall to 109.34 yesterday, intra-day strong rebound suggests the pullback from last Friday's 6-week peak at 110.20 has ended there and consolidation with upside bias remains, above 109.92 would confirm this view and yield re-test of aforesaid resistance, break would extend erratic umove from 107.49 (April) to 110.55 before prospect of a retreat due to loss of momentum.

On the downside, only below 109.30/34 would indicate a temporary top has been made and risk stronger retracement to 108.70/80.

U.S. will release 2nd-tier mortgage application data and later Fed's beige book, however, a have a total of 5 Fed official scheduled to speak in New York session which may move the greenback a bit, please 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 update

 

[acetraderfx]

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

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

USD/JPY - 109.79
As dollar has risen after pullback from yesterday's high at 109.88 to 109.53 in New York, suggesting re-test of May's 6-week high at 110.20 would be seen after consolidation, break would extend upmove from Aprils 107.49 trough to 110.50/55 before prospect of retreat.

On the downside, only below 109.30/33 risks weakness to 109.00/04, then 108.57/62 later.

On the data front, we have a slew of U.S. eco. indicators, pls refer to our EI page for details n pay attention to ADP private payrolls, weekly initial jobless claims, continued jobless claims, ISM non-mfg index, we also have a number of Fed officials scheduled to speak later today.

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 update