Daily Recommendations on Major USD/JPY
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Update Time: 15 Apr 2019 09:30 GMT
USD/JPY - 111.94
Although dollar's retreat after intra-day 1-tick break of Friday's high at 112.09 suggests consolidation is in store before a re-test of March's 10-week peak at 112.14 is forthcoming and a break there would extend upmove from January's 9-month trough at 104.79 towards 112.35 later, loss of momentum would prevent sharp move beyond there and risk would increase for a much-needed correction.
On the downside, only below 111.28 would indicate a temporary top has been made and risk stronger retracement to 110.83 later this week
Data to be released today:
Swiss producer/import price, and U.S. New York Fed manufacturing index on Monday.
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