Daily Recommendations on Major - USD/JPY
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Update Time: 26 Apr 2019 09:30 GMT
USD/JPY - 111.69
Although yesterday's decline to 111.38 in New York confirms recent upmove has made a temporary top at Wed's 4-month peak at 112.39 and range trading is seen ahead of key U.S. GDP data, as long as daily sup at 110.85 holds, upside bias remains and above 112.00/05 signals pullback is over and may head towards 112.67 early next week.
Only below 110.85 signals long-awaited correction has occurred and risk would shift to downside for stronger retracement to 110.00/10 later.
Data to be released later:
France consumer confidence, UK BBA mortgage approvals, CBI trends survey, and U.S. GDP, PCE, University of Michigan sentiment.
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