Daily Recommendations on Major -USD/JPY
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Update Time: 24 Feb 2017 09:16 GMT
USD/JPY - 112.66
The greenback's rebound from last Friday's low at 112.62 suggests the pullback from last Wednesday's high at 114.96 has ended there and consolidation with upside bias remains for gain towards 114.17, then 114.50 later this week.
However, as broad-outlook remains consolidative, reckon aforesaid upper level would remain intact on first testing and yield retreat.
On the downside, only below 112.62 would revive bearishness for a stronger retracement of early rise from February's trough at 111.60 towards 112.06/08.
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