AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

[acetraderfx]

AceTraderFx July 06: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 06 July 2021 09:30GMT

USD/JPY - 1.1849
Despite the greenback's rise to a fresh 15-month peak at 111.65 in Asia on Friday, subsequent selloff to 110.96 in hectic post-NFP trading on the back of soft U.S. unemployment data suggests recent upmove has made a temporary top there and intra-day break below aforesaid support would encourage stronger retracement to 110.40/43, however, support at 110.22 should contain downside and yield rebound later this week.

On the upside, only above 111.40/50 would indicate said pullback has ended instead and risk re-test of 111.65, break would extend to 111.90/00 later.

Data to be released on Tuesday:
New Zealand NZIER confidence, GDT price index, Japan all household spending, RBA rate decision.
Germany industrial orders, ZEW economic sentiment, ZEW current conditions, U.K. Markit construction PMI, EU retail sales, ZEW survey expectations.
U.S. Markit services PMI and ISM non-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 update

 

[ForexWarrior2020]

USD looks to be gaining strength after the bank holiday.

 

[acetraderfx]

AceTraderFx July 07: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 07 July 2021 09:30GMT

USD/JPY - 110.69
Despite the greenback's rise to a fresh 15-month peak at 111.65 in Asia on Friday, subsequent selloff to 110.96 in hectic post-NFP trading on the back of soft U.S. unemployment data suggests recent upmove has made a temporary top there and intra-day break below aforesaid support would encourage stronger retracement to 110.40/43, however, support at 110.22 should contain downside and yield rebound later this week.

On the upside, only above 111.40/50 would indicate said pullback has ended instead and risk re-test of 111.65, break would extend to 111.90/00 later.

Data to be released on Wednesday:
Australia AIG services index.
Germany industrial output, U.K. Halifax house prices, France current account, trade balance, imports, exports, Italy retail sales.
U.S. MBA mortgage application, redbook, JOLTUS job openings and Canada Ivey PM.

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 July 08: Daily Recommendations on Major –USD/JPY

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

USD/JPY - 109.86
The greenback's intra-day selloff below yesterday's low at 110.40 on active safe-haven jpy buying due to selloff in global stocks and U.S. futures suggests decline from July's 15-month peak at 111.65 remains in progress and further weakness to 109.20/30 would be seen after consolidation, however, oversold condition would keep price above 109.00 and yield a much-needed correction later.

On the upside, only above 110.40 would indicate a temporary low has been made instead and risk would increase for a stronger retracement to 110.80/85.

Data to be released on Thursday:
Japan current account, trade balance, Eco watchers outlook, Eco watchers current.
U.K. RICS housing price balance, Swiss unemployment rate, Germany exports, imports, trade balance, current account.
Canada leading index, housing starts, U.S. initial jobless claims and continuing jobless claims.

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 July 09: Daily Recommendations on Major –USD/JPY

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

USD/JPY - 110.04
The greenback's intra-day selloff on Thursday below Wednesday's low at 110.40 to 109.54 on active safe-haven jpy buying due to selloff in global stocks and U.S. futures suggests decline from July's 15-month peak at 111.65 remains in progress and further weakness to 109.20/30 would be seen after consolidation, however, oversold condition would keep price above 109.00 and yield a much-needed correction later.

On the upside, only above 110.40 would indicate a temporary low has been made instead and risk would increase for a stronger retracement to 110.80/85.

Data to be released on Friday:
China PPI, CPI, U.K. GDP, industrial output, manufacturing output, construction output, trade balance.
Italy industrial output, Canada employment change, unemployment rate.
U.S. wholesales inventories and wholesales 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 update

 

[acetraderfx]

AceTraderFx July 12: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 12 July 2021 09:30GMT

USD/JPY - 110.12
Dollar's rally from last Thursday's 3-week trough at 109.54 to 110.27 in European morning today suggests first leg of correction from July's 15-month peak at 111.65 has ended and intra-day cross-inspired retreat in tandem with U.S. yields would bring consolidation before prospect of another rise, loss of upward momentum should cap price below res at 110.81.

Only a daily close below 109.86 signals recovery is over and extends said decline towards next daily chart objective at 109.20.

There is no eco. data due out in the U.S., however, we have NY Fed President Williams n Minneapolis Fed Present Kaskari speaking at 13:30GMT n 16:00GMT 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 update

 

[acetraderfx]

AceTraderFx July 13: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 13 July 2021 09:30GMT

USD/JPY - 110.33
Dollar's rally from last Thursday's 3-week trough at 109.54 to 110.27 in European morning today suggests first leg of correction from July's 15-month peak at 111.65 has ended and intra-day cross-inspired retreat in tandem with U.S. yields would bring consolidation before prospect of another rise, loss of upward momentum should cap price below res at 110.81.

Only a daily close below 109.86 signals recovery is over and extends said decline towards next daily chart objective at 109.20.

Data to be released on Tuesday :
U.K. BRC retail sales, Germany CPI, HICP, Swiss producer/import price, France CPI.
U.S. CPI, redbook and Federal budget.

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 July 14: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 14 July 2021 09:30GMT

USD/JPY - 110.49
Dollar's rally from last Thur's 3-week trough at 109.54 to 110.69 in Asia today on the back of yesterday's release of robust U.S. inflation data suggests first leg of correction from Jul's 15-month peak at 111.65 has ended and gain to 110.90/95 would be seen after consolidation, loss of upward momentum should cap price below res at 111.18.

Only a daily close below 109.86 signals recovery is over and extends said decline towards next daily chart objective at 109.20.

After yesterday's market-moving U.S. CPI data, we have MBA mortgage applications and PPI, then later Fed's beige book. Traders are anxiously awaiting J.Powels semi-annual testimony at 16:00GMT (look out for release of his prepared text in New York morning) where he is expected to be grilled by U.S. lawmakers on his repeated comments on recent sharp rise in U.S. inflation is 'transitory'.
If he sounds anything less than dovish, then U.S. yields will jump n the greenback will do too ! Last and possibly the least, Minneapolis Fed President Kashkari will speak at 17:30GMT.

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 update

 

[acetraderfx]

AceTraderFx July 15: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 15 July 2021 09:30GMT

USD/JPY - 109.80
Despite dollar's rally from last Thur's 3-week trough at 109.54 to 110.69 in Asia yesterday, subsequent selloff to 109.94 yesterday on Federal Reserve Chairman Jerome Powell's dovish testimony and intra-day break below there suggests said correction has ended and consolidation with downside bias remains for a re-test of said support, break would extend recent decline to 109.30 before prospect of a rebound.

On the upside, only above 110.21 would indicate a temporary low has been made and risk stronger retracement to 110.40, then 110.64.

U.S. will release a slew of eco. data, please refer to our EI page for details. Pay attention to another round of J. Powell's comments when he testifies at 13:30GMT on Capital Hill on the second day of his 2-day semi-annual testimony before the Congress. We also have Chicago Fed President Evans speaking 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 update

 

[acetraderfx]

AceTraderFx July 16:Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 16 July 2021 09:30GMT

USD/JPY - 110.14
Despite dollar's rally from last Thur's 3-week trough at 109.54 to 110.69 in Asia yesterday, subsequent selloff to 109.94 Wednesday on Federal Reserve Chairman Jerome Powell's dovish testimony, then 109.72 yesterday suggests said correction has ended and consolidation with downside bias remains for a re-test of said support, break would extend recent decline to 109.30 before prospect of a rebound.

On the upside, only above 110421 would indicate a temporary low has been made and risk stronger retracement to 110.69.

Data to be released on Friday:
New Zealand manufacturing PMI, CPI, Japan interest rate decision, Italy trade balance, global trade balance, EU trade balance, HICP, Canada housing starts, wholesale trade, U.S. retail sales, business inventories and University of Michigan sentiment.

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