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AceTraderFx Feb 22: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 22 Feb 2016 08:31 GMT
USD/JPY - 112.94
Dollar's intra-day selloff from 113.21 to 112.31 on Friday strongly suggests the first leg of correction from February's 15-month trough at 110.99 has ended at 114.88 last Tuesday and consolidation with downside bias would be seen for weakness towards 112.10/13.
However, near term loss of momentum would keep price above support at 111.66/70.
On the upside, only above 114.51 would indicate aforesaid pullback is over instead and turn outlook bullish for a re-test of said top, break, 115.10/20.
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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Feb 23: BOJ's Haruhiko Kuroda :expansion of base money alone won't immediately push up prices
Intra-Day Market Moving News and Views
23 Feb 2016 02:02GMT
USD/JPY - ......Breaking news: In the Parliament Bank of Japan Governor Haruhiko Kuroda's comment that the expanding base money alone will not immediately lead to price rises and a heightening of inflation expectations.
-expansion of base money alone won't immediately push up prices, inflation expectations
-key transmission channel of QQE is to push down real interest rates
-it's true inflation expectations have been somewhat weak recently
-in long run, inflation expectations are rising
-must continue QQE with negative rates until inflation is sustainably above 2 pct
While the Economy Minister Nobuteru Ishihara said he expects Group of 20 finance ministers to debate on how to cooperate in response to the recent turmoil in global financial markets, and Japan was not engaged in competitive currency devaluation and that major economies share an understanding that competitive currency devaluation is undesirable.
-recent market moves are somewhat volatile
-expect G20 to debate how to cooperate in response to recent market moves
-G20 also likely to discuss oil price volatility
-Japan is not engaged in competitive currency devaluation
-G7, G20 share understanding that competitive currency devaluation not desirable
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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Feb 23: Intra-Day Market Moving News and Views USD/JPY
Intra-Day Market Moving News and Views USD/JPY
23 Feb 2016 03:02GMT
USD/JPY - ...... Dlr tumbles in Asian morning session as another round of active yen-buying on risk aversion sent the price below o/n New York low at 112.78, stops below 112.70 were tripped and dlr fell to 112.00 before stabilising.
Traders attributed to yen's strength in particular vs sterling n euro due to heavy selling of these 2 European currencies as market fear of a 'Brexit' prompted cooperates with exposure to sterling to hedge such risk by selling the pound.
Looks like market's attention is on risk aversion and ignores gain in global stocks.
Offers have been lowered to 112.40/50 and more at 112.75/80.
Minor bids are noted at 112.00/111.90 with more stops touted below there, suggesting selling dlr on intra-day recovery is still favoured.
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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Feb 23: Intra-Day Market Moving News and Views EUR/USD
Intra-Day Market Moving News and Views
23 Feb 2016 04:09GMT
EUR/USD - 1.1042.. Euro gained respite in Monday's New York afternoon session n staged a minor short-covering rebound in Asia today after tripping stops above 1.1040, price climbed to 1.1046.
Yesterday's selloff in the pound dragged euro lower as market interpret Britain's exit from the EU would result in a major shake up in the euro zone, leading to more countries opting out of the 28-country bloc.
Offers are tipped at 1.1045/55 and more above with some stops reported above 1.1070, however, more selling interest is noted at 1.1100/10.
Some bids (profit-taking) are noted at 1.1010-1.1000 with stops touted below there.
Expect range trading and pay attention to release of German Q4 2015 GDP data and then key German IFO business sentiment for Feburary at 09:00GMT.
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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Feb 23: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 23 Feb 2016 04:15 GMT
EUR/USD - 1.1043
Euro's selloff below 1.1067/71 sup (now res) yesterday's to 1.1003 in New York suggests decline from Feb's 3-1/2 month peak at 1.1377 would resume after minor consolidation and further weakness to 1.0985 is envisaged.
However, near term loss of momentum should prevent steep fall and reckon 1.3950/60 would hold from here today and risk has increased for a much-needed correction to take place.
On the upside, a daily close above 1.1067 would confirm aforesaid decline has finally formed a temporary low, then stronger retracement to 1.1138/39 would follow, however, res at 1.1193 should remain intact.
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AceTraderFx Feb 23: Daily Recommendations on Major -USD/JPY
Attached Image
DAILY MARKET OUTLOOK
Update Time: 23 Feb 2016 09:04 GMT
USD/JPY - 111.99
Dollar's selloff to 112.31 last Friday, then intra-day fall below this level strongly suggests the first leg of correction from February's 15-month trough at 110.99 has ended at 114.88 last Tuesday and consolidation with downside bias would be seen for weakness towards 111.70/80.
However, near term loss of momentum would keep price above support at 111.57/60.
On the upside, only above 113.05 would indicate aforesaid pullback is over instead and turn outlook bullish for stronger gain towards 113.39, then 113.62.
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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Feb 24: IMF is making huge demand on Greece in the pension reform
Intra-Day Market Moving News and Views EUR/USD
24 Feb 2016 02:30GMT
EUR/USD - .....Earlier Reuters reported that the International Monetary Fund is making a big demand on Greece in the pension reform which required to complete its first bailout review.
Negotiations between the heads of the EU/IMF mission reviewing progress on Greece's pensions overhaul, fiscal targets and the handling of bad loans, took a break earlier this month.
It is unclear when the lenders will return to Athens and whether the latest impasse can be broken.
Greece finance minister Euclid Tsakalotos said that the IMF is pushing them far too much. It's not socially sensitive, and is asking them to do more than they had agreed in the summer.
Under a third bailout of up to 86 billion euros ($95 billion) signed last summer, Greece was asked to cut pension spending by 1 percent of gross domestic product this year. Athens has refused to cut pensions and says it will increase social security contributions instead.
But IMF's director for Europe, Poul Thomsen, has said that Greece will need to implement extra measures worth about 9 billion euros to meet its fiscal targets by 2018 and that the Fund could not see how Athens could do so without major savings on pensions.
Without the lenders' acknowledgement of the reforms, the government cannot start relief talks it needs to show austerity-weary Greeks their sacrifices are paying off.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Feb 24: Intra-Day Market Moving News and Views USD/JPY
Intra-Day Market Moving News and Views
24 Feb 2016 03:03GMT
USD/JPY - ...... Dlr trades with a soft bias in Asia on Wednesday. Despite initial 1-tick fall below yesterday's New York low of 111.77 due to initial gap-down open in the Nikkie, intra-day recovery in the N225 index lifted the pair back to 112.08, however, traders are buying the yen vs euro, gbp and aud on risk aversion, suggesting sideways trading would continue ahead of European open.
Offers are tipped at 112.10/20 and more above with some stops reported above 112.40.
Some bids are reported at 111.75-65 with stops below 111.55. There is market chatter of fairly large stops building below Febuary's 15-month trough of 110.99.
Looking ahead, pay attention to a slew of U.S. data during New York morning starting with Markit servics PMI for Febuary and January new home sales.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Feb 24: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 24 Feb 2016 04:48 GMT
EUR/USD - 1.1010
Although euro is expected to gain respite in Asia following yesterday's intra-day decline from 1.1052 to 1.0990 following release of downbeat German Ifo data and initial consolidation is in store, outlook remains mildly bearish for recent decline from February's 1.1377 peak to pressure price to 1.0950/60.
However, loss of near term downward momentum should prevent steep fall and risk has increased for a much-needed minor correction to take place later today or tomorrow.
On the upside, expect 1.1052 to hold and yield one more fall, only a daily close above 1.1067/71 would signal temporary bottom is finally in place and may bring stronger retracement towards 1.1093.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Feb 25: BOJ Takahide Kiuchi’s dissenting views on negaitive interest rates
Intra-Day Market Moving News and Views
25 Feb 2016 02:06GMT
USD/JPY - ...... Bank of Japan Takahide Kiuchi said in a speech to the business leaders on negative interest rates, could have a result on Japan's financial system being destabilised by squeezing banks' margins and reducing returns on financial investment, and that BOJ should have save that for the future.
A former market economist, Kiuchi was among four of the nine board members who dissented to the BOJ's decision last month to adopt negative rates to prevent global market turmoil from delaying a sustained end to deflation. He has also been a lone proponent to taper the bank's massive asset-buying programme.
More on his latest speech :
-personally felt BoJ ought to save its options now instead of introducing negative rates last month
-don't think BoJ has no tools left to act if economic, financial environment deteriorates
-desirable for central banks to guide policy flexibly, comprehensively combining various means
-in event of crisis, BoJ should consider steps like offering temporary, ample liquidity to protect financial system
-2 pct inflation exceeds price level deemed appropriate in light of true strength of Japan's economy
-at present, hard to achieve 2 pct inflation stably with monetary policy alone
-Japan's economy continues to recover moderately
-Capex, wages are not rising as much as I hoped
-see global economic outlook, market developments as key risks to Japan's economy
-if exports show clear downtrend on weak overseas growth, that may hurt Japan's consumption, output
-tough to push up long-term inflation expectations with BoJ policy alone
-vigilant to various problems that may occur as BoJ buys and holds massive amounts of jgb, which could distort market function
-adopting negative rates risks destabilising BoJ's asset buying
-dissented to last month's decision as did not see need to expand stimulus with economic, price conditions stable
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates