DAILY MARKET OUTLOOK
Update Time: 21 Mar 2017 09:22 GMT
USD/JPY - 112.74
The greenback's selloff to as low as 112.56 last Friday on dollar's broad-based weakness following a dovish Federal Reserve monetary policy statement and then intra-day break of this support confirms erratic upmove from February's trough at 111.60 has made a temporary top at 115.51 in March and downside bias would be seen.
However, near term loss of momentum would keep price above 111.60/70.
On the upside, only above 113.55 would abort daily bearishness and risk stronger retracement of aforesaid fall to 114.05, then 114.26 before prospect of another fall.
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