Daily Recommendations on Major - USD/JPY
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Update Time: 25 Apr 2019 09:30 GMT
USD/JPY - 111.86
Although dollar's retreat after yesterday's rally to a 4-month peak at 112.39 in New York suggests medium term upmove from January's 9-month trough of 104.79 has made a temporary top there and range trading would be seen before price head towards 112.67 later but loss of momentum should limit upside to 113.00.
On the downside, only below 111.66 would risk stronger retracement towards 111.58, then 111.28/33.
Ahead of Friday's key U.S. GDP, we have the usual weekly jobless claims, durable goods order and KC Fed mfg index.
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