Daily Recommendations on Major - USD/JPY
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Update Time: 19 Mar 2018 09:30 GMT
USD/JPY - 105.92
The greenback's weakness after last Friday's fall to 105.60 confirms correction from March's 15-month trough at 105.25 has ended at 107.29 last Tuesday and consolidation with downside bias remains for weakness towards 105.46, below would confirm this view and yield re-test of said support, however, over sold condition would prevent steep fall beyond there and yield a much-needed correction later this week.
ON the upside, only above 106.42 would indicate the pullback from 107.29 has ended instead and turn outlook bullish for gain towards 106.75/80.
Data out today:
Japan exports, imports, trade balance, China house price.
Italy industrial output, trade balance, EU trade balance, construction output, and UK Rightmove house price on Monday
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