Daily Recommendations on Major - USD/JPY

Update Time: 12 Oct 2018 09:30 GMT

USD/JPY - 112.31
Although price has recovered after intra-day resumption of decline from last week's near 11-month peak at 114.55 to 111.84 yesterday and minor consolidation would be seen ahead of U.S. inflation release in NY, reckon 112.83 (previous support, now resistance) would cap upside and yield another fall later, below 111.84 would extend to 111.66/70 before prospect of a correction due to loss of momentum.

On the upside, only above 112.83 would indicate a temporary low has been made and risk stronger retracement towards 113.39 before prospect of retreat.

Data to be released on Friday : 
Germany CPI, HICP, EU industrial production, U.S. import prices, export prices and consumer sentiment.

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.