Update Time: 22 Dec 2015 07:45 GMT
USD/JPY - 121.17
Although dollar's rebound from yesterday's 120.84 low made in New York following downbeat U.S. data suggests early selloff from last Friday's 4-week peak at 123.59 has made a temporary low and consolidation with mild upside bias is seen ahead of release of key U.S. GDP data later today, reckon 121.76 would cap dollar's upside and yield marginal weakness, loss of momentum should keep price above last week's bottom at 120.35 and bring stronger correction later this week.
On the upside, only above said res at 121.76 may risk stronger gain to 122.25/35, however, reckon 122.54 (61.8% r of 123.59-120.84) should cap rebound and yield subsequent decline.
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