Daily Recommendations on Major - USD/JPY

   DAILY MARKET OUTLOOK on Major
Update Time: 15 Mar 2019 09:30 GMT

USD/JPY - 111.68
Although dollar's intra-day retreat from 111.90 to 111.49 in Asia due to active safe-haven buying in jpy on renewed U.S./North Korea tension signals recent rise from last Friday's 110.79 low has made a temporary top, subsequent rebound has retained bullishness and above 111.90/92 would bring re-test of Mar's 10-week high of 112.14.

On the downside, only below 111.47 would indicate recovery has ended instead, risk weakness towards 111.01.

There is a slew of US data to be released today but one should be particular attention to the release of University of Michigan Consumer Sentiment at 14:00GMT.
Street forecast is for an increase to 95.3 from previous reading of 93.8.

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