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.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.