Daily Recommendations on Major - USD/JPY
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Update Time: 21 Jan 2019 09:30 GMT
USD/JPY - 109.61
Although dollar has retreated after Friday's rally to a 2-week high at 109.88 in New York due to U.S./China trade optimism and range trading would be seen before recent upmove from January's 9-month trough of 104.79 extend towards 110.10/15 but near term loss of momentum would cap price below 110.38.
On the downside, only below 109.09 would indicate temporary top made and risks weakness towards 108.69/76.
As U.S. market is closed for Martin Luther King Jr. holiday, expect trading activity to be quiet in N. American time zone.
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