AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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AceTraderFx Jun 12: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 12 Jun 2019 09:30 GMT

USD/JPY - 108.34
Despite dollar's resumption of upmove from last Wed's near 5-month trough at 107.82 to a 1-week high at 108.80 yesterday, subsequent retreat and intra-day break of 108.34 sup suggests temporary top made and weakness towards 107.90/00 would be seen after consolidation but below 107.82 needed to extend fall towards 107.77/80.

On the upside, only above 108.80 would risk gain towards 109.02, then 109.25 later.

Data to be released on Wednesday :
France non-farm payrolls, and U.S. MBA mortgage application, CPI, real weekly earnings, Federal budget.

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AceTraderFx Jun 13: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 13 Jun 2019 09:30 GMT

USD/JPY - 108.32
Despite dollar's rebound from yesterday's 108.22 low to 108.54 in New York, subsequent retreat and then intra-day break of said sup suggests correction from June's near 5-month trough at 107.82 has possibly ended at 108.80 Tuesday and re-test of 107.82 would be seen after consolidation but 107.30 should hold.

On the upside, only a daily close above 108.80 would risk gain towards 109.02, then possibly 109.20/25.

On the data front, the U.S. will release weekly jobless claims, import and export prices.
Later today, Japan's EconNib Motegi will meet with USTR Lighhizer for trade talks in Washington.

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AceTraderFx Jun 14: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 14 Jun 2019 09:30 GMT

USD/JPY - 108.21
Dollar's erratic fall from this week's high at 108.80 (Tue) to 108.17 yesterday suggests early correction from June's 5-month bottom at 107.82 has ended and below 108.00/03 would encourage for re-test of 107.82, however, loss of downward momentum should keep price above projected sup at 107.30.

Only above 108.53/57 prolongs choppy sideways swings and may risk another rise back towards 108.80 but reckon 109.02 should cap upside.

Data to be released on Friday :
Germany wholesale price index, France CPI, Italy industrial orders, industrial sales, CPI.
U.S. retail sales, industrial production, capacity utilization, manufacturing output, business inventories, University of Michigan sentiment.

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AceTraderFx Jun 17: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 17 Jun 201909:30 GMT

USD/JPY - 108.58
Despite dollar's retreat from last Tue's 108.80 high to 108.17 on Thur, Fri's rally to 108.58 in NY after re-testing said sup, then intra-day gain to 108.70 suggests pullback has ended and above 108.80 would extend recent rise from Jun's near 5-month trough at 107.82 towards 109.02.

On the downside, only below 108.17 would indicate correction has ended instead and yield weakness to 107.82 again.

Eco. calendar in the U.S. is pretty thin with NY Fed mfg index n NAHB Housing Market index being the only dat due out in NY morning.

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AceTraderFx Jun 18: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 18 Jun 2019 09:30 GMT

USD/JPY - 108.30
Dollar's retreat from Monday's 108.72 high and intra-day fall in Asia due to BoJ Kuroda's comments suggests further choppy trading below last Tuesday's 108.80 high would continue and below 108.17 would bring re-test of Jun's near 5-month bottom of 107.82, but break needed to extend medium term decline from 112.39 (April) towards 107.30 before rebound.

On the upside, only above 108.80 would risk stronger retracement towards 109.02, break, 109.20/25.

Data to be released on Tuesday :
Germany ZEW economic sentiment, current conditions, EU trade balance, HICP, core HICP, ZEW economic sentiment.
U.S. building permits, housing starts, redbook retail sales and Canada manufacturing sales.

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AceTraderFx Jun 21: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 21 Jun 2019 09:30 GMT

USD/JPY - 107.43
Despite dollar's intra-day resumption of decline from Apr's 4-month peak at 112.39 to a fresh 5-1/2 month low at 107.06 in Asia, subsequent rebound on MOF's comments suggests range trading would be seen before prospect of another fall to 106.90 but 106.75 should hold.

On the upside, only above 107.82 would indicate temporary low is in place and risk retracement towards 108.07, 108.44.

T.G.I.F. after a tumultuous week, U.S. will later release Markit mfg and services PMIs n existing home sales. Cleveland Fed's Mester and Fed Gov. Brainard will participate at a Fed's event in Ohio at 16:00GMT n S. Francisco Fed's Daly will host an event at 19:30GMT.

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AceTraderFx Jun 24: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 24 Jun 2019 09:30 GMT

USD/JPY - 107.37
Although dollar has staged a strong rebound after falling to a fresh 5-1/2 month low at 107.06 on Friday, as 107.73 (New York) has capped recovery, consolidation with downside bias remains and below said sup would extend medium term decline from April's 4-month peak at 122.39 to 106.90 but loss of momentum should keep price above 106.75 today.

On the upside, only above 107.82 would risk stronger retracement towards 108.07, break, 108.44.

On the data front, U.S. will later release Chicago National Activity index and Dallas Fed Mfg Business index.

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AceTraderFx Jun 25: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 25 Jun 2019 09:30 GMT

USD/JPY - 107.00
Despite Mon's sideways swings after Fri's strong rebound from 107.06 to 107.73 (New York), intra-day fall from 107.41 at Asian open and then break of said sup to a fresh 5-1/2 month low at 106.79 on active safe-haven yen buying suggests decline from 112.39 (Apr) would pressure price towards 106.24 before prospect of rebound later.

On the upside, only above 107.25 would indicate temporary bottom made and risk stronger retracement towards 107.50/60.

The U.S. will release a slew of eco. data later today starting with U.S. building permits, Redbook, monthly home price, CS home price, consumer confidence, new home sales, Richmond Fed manufacturing index.
Also we have New York Fed's Williams speaking at 12:45GMT, then followed by Atlanta Fed's Bostic at 14:00GMT n last but not least, Fed's Chairman J. Powell will speak at forum in New York called "A Conversation with Jerome H. Powell," at 17:00 GMT.

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AceTraderFx Jun 27: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 27 Jun 2019 09:30 GMT

USD/JPY - 108.04
Dollar's intra-day rise from 107.66 in Asia and then break above Wednesday's 107.84 high to 108.16 in Europe after media reported U.S.-China trade truce ahead of G20 summit suggests recent upmove from Tuesday's 5-1/2 month trough at 106.79 would head to 108.70/80 after consolidation before prospect of retreat later.

On the downside, only below 107.66 would indicate correction has ended instead and risks weakness to 107.37/41.

Data to be released later:
Italy MFG business confidence, consumer confidence, trade balance, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP, Canada average weekly earnings.
U.S. GDP, PCE, pending home sales, KC Fed manufacturing index.

 

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AceTraderFx Jul 05: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 05 Jul 2019 09:30 GMT

USD/JPY - 108.03
Although the greenback has retreated after Monday's gap-up open on weekend news that U.S. and China will resume their trade talks and gain to 108.53 and minor consolidation would be seen ahead of today's U.S. jobs report, as said move suggests upmove from last Tuesday's 5-1/2 month trough at 106.79 has once again resumed, further gain towards 108.80 would be seen, however, over bought condition would keep price below 109.02/10 and yield a correction later this week.

On the downside, only below 107.06 would indicate a temporary top has been made and risk stronger retracement to 107.57/60.

Data to be released on Friday :
Germany industrial orders, France current account, trade balance, imports, exports, UK Halifax house price, labour productivity.
USA non-farm payrolls, private payrolls, unemployment rate, average earnings, and Canada employment change, unemployment rate, Ivey PMI.

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