DAILY MARKET OUTLOOK on Major
Update Time: 28 Jun 2017 09:33 GMT
USD/JPY - 111.95
The greenback's strong rebound from last Thursday's low at 110.95 suggests the pullback from last Tuesday's high at 111.79 has ended there and consolidation with upside bias would be seen for upmove from June's 7-week trough at 108.83 to resume and yield re-test of said resistance, break would extend towards 112.10/13 before prospect of a correction due to loss of momentum.
On the downside, only below 110.95 would abort daily bullishness and risk stronger retracement of aforesaid upmove towards 110.66, then 110.34/35.
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