Daily Recommendations on Major -USD/JPY
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Update Time: 28 Mar 2017 09:12 GMT
USD/JPY - 110.66
The greenback opened lower in New Zealand as President Trump failed to push through his healthcare bill in Congress and subsequent fall below last week's low at 110.63 signals decline from December's peak at 118.66 has once again resumed and consolidation with downside bias remains for weakness towards 109.90/00.
However, loss of momentum would prevent steep fall below there and risk would increase for a much-needed correction later this week.
On the upside, only above 111.58 would be the first sign that a temporary low has been made and risk stronger retracement to 112.11 before prospect of another decline later.
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