AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Nov 2020 09:30GMT

USD/JPY - 104.03
The greenback's intra-day fall to 103.92 in Asia suggests upmove from last week's bottom at 103.66 has made a top at 104.75 Tuesday and consolidation with downside bias remains for weakness to 103.80/90 would be seen, below would retain bearishness for a re-test of aforesaid low, break would extend erratic decline from 105.67 (November) to 103.20/30 before prospect of correction.

On the upside, only above 104.30/40 would dampen daily bearishness and risk stronger retracement to 104.47/50, however, 104.75 should remain intact.

On the data front, no U.S. economic data is due out as many market participants have taken a long w/end off following Thur's Thanksgiving holiday but U.S. stock n FX markets are open later today.

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AceTraderFx Nov 30: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 30 Nov 2020 09:30GMT

USD/JPY - 104.19
Despite dollar's intra-day break below Friday's low at 103.92 to 103.84 in Asia, subsequent strong rebound suggests further choppy trading above previous support at 103.66 would continue and marginal gain from here is likely to be seen, however, as long as 104.25/30 holds, downside bias remains for another fall, below 103.84 needed to bring re-test of 103.66.

On the upside, only above 104.45/50 would dampen daily bearishness and risk gain to resistance at 104.75, break would bring stronger retracement of recent decline to 104.95/00.

U.S. traders will be back after last Thursday's Thanksgiving long weekend leave, on the data front, we have October's pending home sales n Dallas Fed manf. business index later today.

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AceTraderFx Dec 01: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 01 Dec 2020 09:30GMT

USD/JPY - 104.33
Despite the greenback's marginal break of yesterday's high at 104.40 to 104.46 in Asia, subsequent retreat suggests the recovery from Monday's low at 103.84 has ended there and consolidation with downside bias remains, below 104.08 would add credence to this view and yield 103.84, however, support at 103.66 should remain intact and yield rebound later.

On the upside, only above 104.75 is needed to dampen daily bearishness and risk stronger retracement of decline from November's peak at 105.67 to 105.13 later.

Data to be released on Tuesday :
Japan unemployment rate, manufacturing PMI, Australia building permits, current account, RBA interest rate decision.
Swiss GDP, manufacturing PMI, Italy manufacturing PMI, GDP, France manufacturing PMI, Germany manufacturing PMI, EU manufacturing PMI, HICP.
Canada GDP, manufacturing PMI, U.S. redbook retail sales, manufacturing PMI, construction spending and ISM manufacturing PMI.

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AceTraderFx Dec 02: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 02 Dec 2020 09:30GMT

USD/JPY - 104.58
Dollar's rally from Monday's low at 103.84 to 104.58 yesterday and intra-day break above this level suggests further choppy trading inside recent broad range of 103.66-104.75 would continue and as long as said upper level holds, daily bearishness remains and below 104.19 would bring weakness to 103.84 again but support at 103.66 should remain intact.

On the upside, only above 104.75 would revive bullishness for stronger retracement of early decline from 105.67 to 105.13 later this week.

U.S. will release a slew of eco. data (pls refer to EI page for details), market may pay attention to ADP private payrolls ahead of Fri's key U.S. jobs report. Fed's chairman J. Poweel will give his second-day testimony to Congress before the House Financial Services Committee n other Fed officials are scheduled to speak (see see EI page for details) later today.

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AceTraderFx Dec 03: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 03 Dec 2020 09:30GMT

USD/JPY - 104.28
Despite the greenback's rise to 104.74 yesterday, subsequent retreat suggests price would continue to gyrate inside recent 103.66-104.75 range with downside bias and weakness to 103.90/00 would be seen, below support at 103.84 (Monday) is needed to bring re-test of indicated lower level, where break would extend erratic decline from 105.67 (November) to 103.40/50, however, November's bottom at 103.18 should remain intact.

On the upside, only a firm break above 104.75 would dampen daily bearishness and risk stronger retracement to 104.90/95.

Data to be released on Thursday :
Germany retail sales, Swiss CPI, Italy unemployment rate, EU producer prices, unemployment rate.
Canada labour productivity, U.S. mortgage applications, ADP employment change and ISM New York index.

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AceTraderFx Dec 04: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 04 Dec 2020 09:30GMT

USD/JPY - 103.93
The greenback's selloff from Wednesday's high at 104.74 and break below Monday's low at 103.84 to 103.68 confirms early correction from 104.66 has ended at 104.75 last week and below said support would extend recent decline to 103.30/40, however, November's bottom at 103.18 should remain intact and yield rebound later.

On the upside, only above 104.19/23 would dampen daily bearishness and risk stronger retracement to 104.53/57, then 104.75 later next week.

U.S. will release a slew of eco. data n as today is the first Fri of the month, market is eagerly awaiting U.S. jobs report as barometer of latest employment situation. A number of Fed officials are scheduled to speak during New York session, pls refer to our EI page for details.

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

ADAILY MARKET OUTLOOK on Major
Update Time: 07 Dec 2020 09:30GMT

USD/JPY - 104.27
The greeback's strong rebound from 103.75 to to 104.24 on Friday due to a jump in U.S. Treasury yields and intra-day break above there suggests further choppy trading above previous support at 103.66 would continue with upside bias and gain to 104.55/60 would be seen after consolidaition, however, resistance at 104.75 (reaction top) would remain intact.

On the downside, only below 103.95 (Asia) would revive bearishness for weakness to 103.66/68, break is needed to extend weakness to 103.30/40.

Germany industrial output, UK Halifax house price index, EU Sentix index, and Canada Ivey PMI on Monday.

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AceTraderFx Dec 08: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 08 Dec 2020 09:30GMT

USD/JPY - 104.09
Despite the greenback's strong rebound from last Thursday's low at 103.68 to 104.31 yesterday, subsequent retreat to 103.93 suggests price would continue to gyrate inside recent broad range of 103.66-104.66 and intra-day recovery from 103.96 would head back to 104.31, then 104.53/54 later, however, indicated upper level would remain intact.

On the downside, only below 103.66 would indicate decline from November's peak at 105.67 has finally resumed and head to 103.18 (November) later.

On the data front, U.S. will release a slew of eco. indicators, please refer to our EI page for details.

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AceTraderFx Dec 09: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 09 Dec 2020 09:30GMT

USD/JPY - 104.22
Despite the greenback's strong rebound from last Thursday's low at 103.68 to 104.31 Monday, subsequent retreat to 103.93 suggests price would continue to gyrate inside recent broad range of 103.66-104.66 and yesterday's recovery from 103.96 would head back to 104.31, then 104.53/54 later, however, indicated upper level would remain intact.

On the downside, only below 103.66 would indicate decline from November's peak at 105.67 has finally resumed and head to 103.18 (November) later.

Data to be released on Wednesday :
Australia consumer sentiment, Japan machinery orders, machine tool orders, China PPI, CPI.
Germany exports, imports, trade balance, current account.
U.S. MBA mortgage applications, JOLTS job openings, wholesale inventories, wholesale sales, and Canada Bank of Canada interest rate decision.

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AceTraderFx Dec 10: Daily Recommendations on Major – USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 10 Dec 2020 09:30GMT

USD/JPY - 104.55
Despite the greenback's selloff from last Wednesday's high at 103.68 last Thursday, subsequent strong rebound to 104.40 yesterday and intra-day break above this level suggests choppy trading with mild upside bias would be seen, however, as price is expected to be confined inside recent 103.66-104.75 range, reckon indicated upper level would remain intact and yield retreat later.

On the downside, only below 104.06 would bring weakness to 103.93, then 103.75 but support at 103.66 should hold and yield recovery.

Data to be released on Thursday :
New Zealand retail sales, Japan corporate goods price.
UK RICS housing price balance, GDP, industrial output, manufacturing output, construction output, trade balance, NIESR GDP estimate, France industrial output, EU ECB refinancing rate decision, ECB deposit rate decision.
U.S. core CPI, CPI, real weekly earnings, initial jobless claims, continued jobless claims, Federal budget.

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