Daily Recommendations on Major - USD/JPY
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Update Time: 25 Apr 2018 09:30 GMT
USD/JPY - 109.20
Dollar's intra-day break of yesterday's 2-month peak at 109.20 yesterday signals upmove from March's trough at 104.57 has once again resumed and consolidation with upside bias remains for further gain towards 108.40/50.
However, loss of momentum would prevent sharp move beyond there and reckon 109.79 would remain intact and yield a much-needed correction later this week.
On the downside, only below 107.10 would indicate a temporary top has been made and risk would increase for a stronger retracement towards 106.62 later.
EZ eco. calendar is pretty thin with France's consumer confidence being the only data due out. ECB members Villeroy, Knot n Lane will all speak at a conference in Paris at 07:00GMT.
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