DAILY MARKET OUTLOOK on Major
Update Time: 15 May 2017 09:05 GMT
USD/JPY - 113.67
Despite the greenback's gap-down open and fall to 113.13 in New Zealand on risk aversion due to missile test by North Korea on Sunday, subsequent rebound suggests the pullback from last Wednesday's 8-week peak at 114.37 has possibly ended there and choppy trading with upside bias would be seen for gain to 113.92, above would confirm this view and yield re-test of 114.37 later this week.
On the downside, only below 113.13 would abort bullishness and risk stronger retracement of recent rise towards 113.05, then 112.62 before prospect of a rebound.
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