Daily Recommendations on Major - USD/JPY
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Update Time: 24 Apr 2019 09:30 GMT
USD/JPY - 111.81
Although dollar has retreated after resumption of upmove from Jan's 9-month trough of 104.79 to a near 4-month high at 112.17 last Wed, yesterday's rebound from 111.66 (Asia) to 112.03 in New York signals range trading would be seen before price extends towards 112.40/45 but loss of momentum should cap price below 112.67 and yield correction.
On the downside, only below 111.58/66 would risk stronger retracement towards 111.28, then 111.00/05.
Data to be released on Wednesday :
France business climate, Germany Ifo business climate, Ifo current conditions, Ifo expectations, Italy trade balance, Swiss investor sentiment, UK PSNB, PSNCR.
U.S. MBA mortgage application and Canada Bank of Canada interest rate decision.
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