AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

[acetraderfx]

AceTraderFx July 19: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 19 July 2021 09:30GMT

USD/JPY - 109.89
Despite dollar's rally from last July's 3-week trough at 109.54 to 110.69 last Wednesday, subsequent selloff to 109.94 Wednesday on Federal Reserve Chairman Jerome Powell's dovish testimony, then 109.72 Thursday 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 today:
U.K. Rightmove house price, EU construction output.
U.S. NAHB housing market 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 update

 

[acetraderfx]

AceTraderFx July 20: Intra-Day News and Views & data to be released today – EUR/USD

Intra-Day Market Moving News and Views
Update Time: 20 July 2021 05:30GMT

EUR/USD - 1.1799.. Euro moves narrowly in subdued Asian morning after Monday's roller-coaster ride. Although price met selling at 1.1813 (AUS) n fell in Europe on renewed usd's strength to 1.1766, then to a fresh 3-month low of 1.1765 shortly after New York open, price briefly jumped to 1.1824 on active buying in eur/gbp and short squeeze before retreating to 1.1792 in late New York.

Despite intra-day marginal weakness to 1.1791 at Asian open, as said yesterday's low suggests recent decline has made a temp. bottom, range trading is likely to continue in Europe n above 1.1824 would bring stronger retracement to 1.1845/50 before prospect of retreat.
Bids are noted at 1.1795/90 with stops below 1.1765 while offers are tipped at 1.1815/20 with stops touted above 1.1825.

On the data front, we have Germany's PPI n then EU's current account.

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 20:Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 20 July 2021 09:30GMT

USD/JPY - 109.69
Despite dollar's rally from last July's 3-week trough at 109.54 to 110.69 last Wednesday, subsequent selloff to 109.94 Wednesday on Federal Reserve Chairman Jerome Powell's dovish testimony, then 109.72 Thursday 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.

U.S. will later release buidling permits, housing starts n then redbook sales later today. Traders will take cue from movement in U.S. stocks n U.S. yields.

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 21: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 21 July 2021 09:30GMT

USD/JPY - 110.17
Despite dollar's selloff to a 7-week trough at 109.07 on Monday due to risk-averse buying in jpy, subsequent strong rebound to 109.95 yesterday and intra-day break above there suggests decline from July's peak at 111.65 has ended there and consolidation with upside bias remains for stronger retracement to 110.34, however, resistance at 110.69 would remain intact and yield retreat.

On the downside, only below 109.54 would indicate aforesaid correction has ended instead and risk stronger weakness to 109.34 later this week.

U.S. eco. calendar is pretty light with second-tier MBA mortgage applications and new housing price index being the only data due out in New York morning. Therefore, traders will continue to take cue from intra-day moves in U.S. yields n U.S. stock futures until NY open.

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 22: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 22 July 2021 09:30GMT

USD/JPY - 110.28
Despite dollar's selloff to a 7-week trough at 109.07 on Monday due to risk-averse buying in jpy, subsequent strong rebound to 109.95 yesterday and intra-day break above there suggests decline from July's peak at 111.65 has ended there and consolidation with upside bias remains for stronger retracement to 110.34, however, resistance at 110.69 would remain intact and yield retreat.

On the downside, only below 109.54 would indicate aforesaid correction has ended instead and risk stronger weakness to 109.34 later this week.

U.S. will release a slew of eco. data, pls refer to our EI page for details n pay attention to release of weekly jobless claims, continued jobless claims.

url="http://www.acetrader.com"]AceTrader - Best Intra-day Forex Trading Strategies[/url]
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

AceTraderFx July 23: AceTraderFx July 23: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 23 July 2021 09:30GM

USD/JPY - 110.48
Despite dollar's selloff to a 7-week trough at 109.07 on Monday due to risk-averse buying in jpy, subsequent strong rebound to 110.38 on Wednesday and intra-day break above there suggests decline from July's peak at 111.65 has ended there and consolidation with upside bias remains for stronger retracement to 110.97/00, however, resistance at 111.18 would remain intact and yield retreat.

On the downside, only below 109.54 would indicate aforesaid correction has ended instead and risk stronger weakness to 109.34 later this week.

Data to be released on Friday:
Australia manufacturing PMI, services PMI, Japan market holiday.
U.K. Gfk consumer confidence, U.K. retail sales, France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, U.K. Markit manufacturing PMI, Markit services PMI.
Canada retail sales, U.S. Markit manufacturing PMI and Markit services PMI.

AceTrader - Best Intra-day Forex Trading StrategiesAceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

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

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

USD/JPY - 110.16
Despite dollar's selloff to a 7-week trough at 109.07 last Monday due to risk-averse buying in jpy, subsequent strong rebound to 110.58 on Friday suggests decline from July's peak at 111.65 has ended there and consolidation with upside bias remains for stronger retracement to 110.97/00, however, resistance at 111.18 would remain intact and yield retreat.

On the downside, only below 109.54 would indicate aforesaid correction has ended instead and risk stronger weakness to 109.34 later this week.

Data to be released later :
New Zealand imports, trade balance, exports, Japan Jibun bank manufacturing PMI.
Germany import prices, Ifo business climate, Ifo current conditions, Ifo expectations.
U.S. building permits, new home sales and 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 update

 

[acetraderfx]

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

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

USD/JPY - 110.10
Despite dollar's selloff to a 7-week trough at 109.07 last Monday due to risk-averse buying in jpy, subsequent strong rebound to 110.58 on Friday suggests decline from July's peak at 111.65 has ended there and consolidation with upside bias remains for stronger retracement to 110.97/00, however, resistance at 111.18 would remain intact and yield retreat.

On the downside, only below 109.54 would indicate aforesaid correction has ended instead and risk stronger weakness to 109.34 later this week.

The increase was also driven by a 1.3% rise in transportation fees as international freight prices continued to increase, highlighting the cost pressure companies are facing as economies across the globe re-open

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 28: Daily Recommendations on Major –USD/JPY

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

USD/JPY - 109.95
Although dlr's decline from 110.59 (Fri) to 109.59 in tandem with U.S. yields suggests early cross-inspired rise from Jul's 109.07 bottom has made a temporary top, intra-day rebound in Europe would bring consolidation ahead of key FOMC's announcement.

A daily close above 110.13 signals pullback is over, then outlook would turn bullish for re-test of 110.59. Below 109.59 would shift risk to downside for weakness towards 109.07 later.

Ahead of FOMC announcement at 18:00GMT and post-FOMC press conference at 18:30GMT, we have some second-tier data due out, 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 July 29: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 29 July 2021 09:30GMT

USD/JPY - 109.79
Yesterday's fall from 110.28 following dovish comments by J. Powell at post-FOMC presser to 109.69 today suggests choppy trading below last week's high at 110.59 would continue and intra-day broad-based usd's weakness would pressure price to 109.59, as broad outlook remains consolidative, reckon Jul's bottom at 109.07 should remain intact and yield rebound.

Only a daily close above 110.00 would bring another rise to 110.28, however, 110.59 should hold from here.

Now that the key FOMC is out of the way, traders will focus on U.S. eco. data, today we have a slew of eco. data, pls refer to our EI page for detials and pay attention to Q2 GDP, Q2 PCE, initial jobless claims n continued jobless claims at 12:30GMT.

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