AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

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

USD/JPY - 107.87
Dollar's strong rebound from Tuesday's low at 106.97 to 107.95 (New York) yesterday suggests pullback from September's 6-week top at 108.47 has ended, and as price has rebounded after initial retreat to 107.66 (Asia), upside bias is retained for gain to 108.20/30 but 108.47 should hold.

On the downside , only below 107.43 signals recovery has ended instead and risk weakness toward 107.26, then 106.97.

Data to be released later:
France consumer spending, CPI (EU norm), CPI, producer prices, Italy MFG business confidence, consumer confidence, producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence.
U.S. personal income, personal spending, core PCE index, PCE price, durable goods, durables ex-transport, ex-defense, U. of Michigan sentiment and Canada budget balance.

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AceTraderFx Oct 09: Daily Recommendations on Major -USD/JPY

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

USD/JPY - 107.27
Despite dollar's rise from last Thursday's 3-week low at 106.49 to 107.46 Monday, subsequent retreat to 106.82 in Europe yesterday signals correction has possibly ended, intra-day rebound would bring range trading before price head towards 106.49, where break would extend to 106.24.

On the upside, only above 107.46 would yield gain towards 107.89, then 108.17.

U.S. will release some 2nd-tier economic data starting with MBA mortgage applications, JOLTS jobs openings, wholesale inventories and wholesale sales. Pay attention to release of Sep's FOMC minutes at 18:00GMT which is expected to move intra-day market. We also have Fed's Powell making an opening speech at a "Fed Listens" event in Kansas City at 15:00GMT and also KC Fed's George at the same venue.

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

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

USD/JPY - 108.63
Despite dollar's retreat from yesterday's high at 108.75 in Europe to 108.50 (NY), subsequent rebound to 108.70 in Asia today signals pullback has ended and consolidation with upside bias remains for re-test of last Thur's 2-1/2 month's top at 108.93, where break would extend rise from Aug's 33-month trough at 104.46 to 109.31.

On the downside, only below 108.26 would risk weakness to 108.00/04, then 107.76.

The economic calendar is relatively light today. U.S. will release its University of Michigan Consumer Confidence at 14:00GMT. Street forecast is for an unchanged reading of 96.0.

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AceTraderFx Nov 01: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 01 Nov 2019 09:30GMT

USD/JPY - 107.98
Yesterday's selloff to 107.93 in New York on active safe-haven yen buying due to renewed U.S-China trade concern, then 107.90 in Asia today suggests decline from Wed's near 3-month peak at 109.28 would extend to 107.30/40 after consolidation, however, 106.94/04 should hold and yield correction.

On the upside, only above 108.50/59 would risk gain toward 108.75/80 before prospect of retreat.
U.S. will later release the blockbuster U.S. NFP, unemployment rate, average wage earnings, then Markit mfg PMI, construction spending, ISM mfg PMI. We have a number of Fed officials speaking during NY session after recent Fed blackout ahead of the FOMC, see EI section for details of their scheduled speeches.

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AceTraderFx Nov 04: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 04 Nov 2019 09:30GMT

USD/JPY - 108.37
Dollar's selloff from last Wednesday's high at 109.28 to last Friday's 2-week low at 107.90 suggests upmove from August's 33-month bottom 104.46 has made a temporary top there, subsequent rebound would bring choppy trading before prospect of another fall, below 107.90 would extend to 107.40/45 but 107.04 may hold.

On the upside, only above 108.50 would risk gain towards 108.78, then possibly 109.28.

U.S. had moved its clock one hour back to winter time over the w/end. On the data front, we have ISM New York index, durable goods order and factory orders.

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

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

USD/JPY - 108.82
Despite dollar's retreat to 107.90 in Asia on Friday, subsequent rebound signals pullback from last Wednesday's near 3-month high at 109.28 has ended and consolidation with upside bias for gain towards 109.06, break would bring re-test of said resistance later this week.

On the downside, only below 108.32 would indicate a temporary top has been made and risk weakness to 107.90, then 107.76.

Data to be released later:
UK BRC retail sales, Markit services PMI, EU producer prices.
Canada trade balance, exports, imports, and U.S. redbook, Markit services PMI, ISM non-manufacturing PMI, JOLTS job openings.

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AceTraderFx Nov 06: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 06 Nov 2019 09:30GMT

USD/JPY - 109.03
Despite dollar's fall from last Wednesday's high at 109.28 to Friday's trough at 107.90, subsequent rebound to 109.24 yesterday suggests pullback has ended there and intra-day retreat would bring consolidation before another rise for re-test of said resistance, break would extend upmove from 104.46 towards 109.77 but 109.93 should hold and yield correction.

On the downside, only below 108.55 would signal a temporary top has been made and risk stronger retracement to 108.32.

There are a couple of Fed speakers today. Chicago Fed President Evans will speak at 13:00GMT and NY Fed President Williams will participate in a discussion at the "Future of Workforce" event at 14:30GMT.

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AceTraderFx Nov 07: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 07 Nov 2019 09:30GMT

USD/JPY - 108.96
Despite dollar's fall from Tuesday's 109.24 high to 108.83 yesterday, then to 108.66 in Asia today, subsequent jump to 109.12 in Europe on positive U.S.-China trade news suggests pullback has ended and range trading would be seen before upmove from August's 33-month trough at 104.46 resumes and extends to 109.65/70.

On the downside, only below 108.66 would risk weakness to 108.32, then 107.90.

Pay attention to the release of U.S. jobless claims at 13:30GMT. Street forecast is 215K vs previous reading of 218K.
Elsewhere, Dallas Fed President will participate in a question-and-answer session at the Dallas Regional Chamber of Commerce at 18:05GMT.

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AceTraderFx Nov 08: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 08 Nov 2019 09:30GMT

USD/JPY - 109.28
Dollar's firm break of October's high at 109.28 to a 5-month top at 109.48 (New York) yesterday on rising U.S. yields signals upmove from August's 33-month trough at 104.46 has resumed and gain towards 109.93 would be seen after consolidation but 110.00 should hold due to loss of upward momentum.

On the downside, only below 108.83 suggests temporary top has been made and risks weakness to 108.66, break, 108.32.

Data to be released on Friday :
Swiss unemployment rate, Germany exports, imports, trade balance, current account, France current account, industrial output, non-farm payrolls, trade balance, imports, exports.
Canada housing starts, building permits, employment change, unemployment rate, and U.S. University of Michigan sentiment, wholesale inventories, wholesale sales.

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AceTraderFx Nov 11: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 11 Nov 2019 09:30GMT

USD/JPY - 108.98
Despite dollar's rebound to 109.47 on Friday 109.47, subsequent retreat to 109.09 (New York), then lower to 108.92 (Europe) today suggests choppy trading below last Thursday's 5-month top at 109.48 would continue and marginal weakness would be seen, however, reckon 108.66 would remain intact and yield prospect of another rise.

On the downside, only below 108.66 would risk stronger retracement to 108.32/35.

Data to be released later:
UK NIESR GDP estimate, GDP, industrial output, manufacturing output, construction output, goods trade balance, Italy industrial output.
U.S. market holiday and Canada market holiday on Monday.

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