AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

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

USD/JPY - 110.27
Despite the greenback's selloff to a 2-month trough at 108.73 last Wednesday, subsequent rally to 110.35 last Friday on upbeat U.S. jobs report and intra-day break above there suggests a temporary low has been made and consolidation with upside bias remains for stronger retracement to 110.60/65 before prospect of retreat later.

On the downside, only below 109.41 would indicate aforesaid recovery has ended instead and risk weakness to 109.07, then bring re-test of said support, break would extend to 108.50/60.

Data to be released on Friday:
New Zealand manufacturing PMI, Japan tertiary industry activity.
France ILO unemployment rate, CPI, Germany wholesale price index, Swiss producer/import price, EU trade balance.
U.S. import prices, export prices and University of Michigan sentiment.

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

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

USD/JPY - 109.36
Despite the greenback's selloff to a 2-month trough at 108.73 in August, subsequent rally to 110.79 last Wednesday on usd's continued strength suggests a temporary low has been made and consolidation with upside bias remains for stronger retracement to 110.60/65 before prospect of retreat later.

On the downside, only below 109.19 would indicate aforesaid recovery has ended instead and risk weakness to 109.07, then bring re-test of said support, break would extend to 108.50/60.

Economic calendar in the U.S. is very light with New York Fed mfg index being the only data due out at 12:30GMT.

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AceTraderFx Aug 17: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 17 Aug 2021 09:30GMT

USD/JPY - 109.34
Dollar cross-inspired selloff from last Wednesday's 1-month peak at 110.79 to as low as 109.12 yesterday suggests early upmove from 108.73 (August low) has ended there and downside bias remains for further weakness, break of 108.73 needed to extend weakness towards 108.35 later this week.

On the upside, only above 109.75 signals temporary low is made and may risk stronger gain to 110.03.

Data to be released on Tuesday:
Japan tertiary industry activity.
U.K. claimant count, ILO unemployment rate, employment change, average weekly earnings, EU construction output, employment, GDP.
Canada housing starts, U.S. retail sales, redbook, industrial production, capacity utilization, manufacturing output, industrial production, business inventories, NAHB housing market index and New Zealand GDT price index.

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

DAILY MARKET OUTLOOK on Major
Update Time: 18 Aug2021 09:30GMT

USD/JPY - 109.65
Dollar cross-inspired selloff from last Wednesday's 1-month peak at 110.79 to as low as 109.12 on Monday suggests early upmove from 108.73 (Aug low) has ended there and downside bias remains for further weakness, break of 108.73 needed to extend weakness towards 108.35 later this week.

On the upside, only above 109.75 signals temporary low is made and may risk stronger gain to 110.03.

U.S. will release a slew of eco. data, please refer to our EI page for details. Pay attention to U.S. CPI, a higher-than-expected reading would push the greenback higher.
Last but not least, the Fed will later release previous FOMC minutes at 18:00GMT, a hawkish sounding minutes will obviously trigger usd buying.

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

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

USD/JPY - 109.68
Despite the greenback's strong rebound from Monday's low at 109.12 to 110.22 in Asia today, subsequent sharp retreat in tandem with U.S. yields suggests further choppy trading below August's peak at 110.79 would continue with downside bias and below 109.49 would bring weakness to 109.12, however, August's bottom at 108.73 should hold on first testing.

On the upside, only above 110.22 would revive bullishness for gain towards 110.54, then 110.79 early next week.

ON the data front, U.S. will release initial jobless claims, continued jobless claims, Philly Fed mfg index n leading index change.

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AceTraderFx Aug 20: Daily Recommendations on Major –USD/JPY

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

USD/JPY - 109.62
Despite the greenback's strong rebound from Monday's low at 109.12 to 110.22 in Asia today, subsequent sharp retreat in tandem with U.S. yields suggests further choppy trading below August's peak at 110.79 would continue with downside bias and below 109.49 would bring weakness to 109.12, however, August's bottom at 108.73 should hold on first testing.

On the upside, only above 110.22 would revive bullishness for gain towards 110.54, then 110.79 early next week.

Data to be released on Friday:
U.K. Gfk consumer confidence, PSNB, PSNCR, retail sales, Japan nationwide CPI, Germany producer prices.
Canada retail sales and new housing price index.

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

DAILY MARKET OUTLOOK on Major
Update Time: 23 Aug 2021 09:30GMT

USD/JPY - 109.96
Despite the greenback's strong rebound from Monday's low at 109.12 to 110.22 in Asia today, subsequent sharp retreat in tandem with U.S. yields suggests further choppy trading below August's peak at 110.79 would continue with downside bias and below 109.49 would bring weakness to 109.12, however, August's bottom at 108.73 should hold on first testing.

On the upside, only above 110.22 would revive bullishness for gain towards 110.54, then 110.79 early next week.

Data to be released next week :
Australia manufacturing PMI, services PMI, Japan Jibun bank manufacturing PMI.
France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, consumer confidence, U.K. Markit manufacturing PMI, Markit services PMI, CBI trends orders.
U.S. Markit manufacturing PMI, Markit services PMI and existing home sales on Monday.

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

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

USD/JPY - 109.77
Despite the greenback's strong rebound from Monday's low at 109.12 to 110.22 in Asia today, subsequent sharp retreat in tandem with U.S. yields suggests further choppy trading below August's peak at 110.79 would continue with downside bias and below 109.49 would bring weakness to 109.12, however, August's bottom at 108.73 should hold on first testing.

On the upside, only above 110.22 would revive bullishness for gain towards 110.54, then 110.79 early next week.

U.S. will release a slew of second-tier eco. data, pls refer to our EI page for details.

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

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

Despite esterday's cross-inspired brief break of prev. 109.49 sup to 109.42 (New York), subsequent bounce in tandem with US yields to 109.75, then intra-day gain to 109.86 suggests pullback from last week's 110 .22 high over, above needed to head to 110.50/54.

Turn cautious buyer on dips for 110.20 as only below 109.42 may risk weakness towards 109.12.

U.S. will release durable goods at 12:30GMT n later we have S. Francisco Fed President Daly (voter) participating at an academic event at 17:00GMT.

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

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

USD/JPY - 110.18
The greenback's rally from Tuesday's low at 109.42 to 110.12 yesterday and intra-day break above there in tandem with rising U.S. yields and cross-selling in jpy suggests further choppy trading above last Tuesday's low at 109.12 would continue with upside bias and above reaction high at 110.22 would bring stronger retracement of near term decline from 110.79 (Aug) towards 110.54.

On the downside, only below 109.88 would indicate aforesaid recovery has ended instead and risk weakness to 109.63/66, then 109.42.

Data to be released on Thursday :
Australia capital expenditure, building capex.
Germany Gfk consumer sentiment, Swiss non-farm payrolls, France business climate, Italy industrial sale.
U.S. GDP, Core PCE prices, initial jobless claims, continuing jobless claims, KC Fed manufacturing and Canada average weekly earnings.

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