Daily Recommendations on Major - USD/JPY
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Update Time: 17 Apr 2019 09:30 GMT
USD/JPY - 112.06
Dollar's intra-day rise to a near 4-month high at 112.17 at Asian open confirms medium term upmove from Jan's 9-month trough of 104.79 has resumed, subsequent retreat would bring range trading before price extends to 112.50/55 but loss of momentum should cap price below 112.67.
On the downside, only below 111.58 would risk stronger retracement towards 111.28 before rebound.
Data to be released on Wednesday:
Italy consumer prices, trade balance, global EU current account, trade balance, HICP, UK CPI, RPI, PPI input prices, PPI output prices.
U.S. MBA mortgage application, trade balance, wholesale sales, and Canada CPI, trade balance, exports, imports.
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