DAILY MARKET OUTLOOKUpdate Time: 17 Mar 2016 08:06 GMT
USD/JPY - 111.70
The greenback's selloff to 112.33 yesterday on dollar's broad-based weakness post the Federal Reserve's unchanged rate decision, then intra-day fall below said support to 111.48 signals recent erratic downtrend from March's high at 114.56 remains in progress and consolidation with downside bias remains for weakness towards 111.30/40, however, near term loss of momentum would keep price above support at 111.04.
On the upside, only above 112.63 would indicate a temporary low has been made and turn outlook bullish for a much-needed correction towards 112.96/00.
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