DAILY MARKET OUTLOOK
Update Time: 28 Apr 2016 09:03 GMT
USD/JPY - 108.33
Dollar's intra-day more than 3 percent decline from Asian high of 111.88 to as low as 108.06 in European after unchanged BoJ's rate decision confirms correction from April's 17-month trough at 107.63 has ended on Monday at 111.91 and consolidation with downside bias would be seen.
However, break of said sup is needed to confirm Medium Term downtrend has resumed and extend weakness towards 106.90/00 later.
On the upside, only a daily close above 109.40/50 would indicate further choppy sideways would continue and yield gain towards 109.90/00 before retreat occurs.
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