Daily Recommendations on Major - USD/JPY

Update Time: 21 Apr 2017 09:13 GMT

USD/JPY - 109.17
Despite the greenback's resumption of recent losing streak to a fresh 5-month trough at 108.13 on Monday, subsequent rally to 109.48 yesterday suggests recent erratic downtrend has made a minor low there and choppy trading with upside bias would be seen for retracement towards 109.85/86, however, as broad-outlook remains consolidative, reckon 110.14 (previous support, now resistance) would remain intact and yield retreat. 

On the downside, only below 108.13 would revive bearishness for one more fall to 108.30 but as this move is losing downward momentum, reckon 108.13 would hold and bring a much-needed correction later this week.


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.