Intra-Day Market Moving News and Views
29 Mar 2016 01:16GMT
USD/JPY - ..... Dlr moves sideways in quiet Asian trading after clocking up 7 days of consecutive gains on Monday. Despite climbing to a fresh 1-week high of 113.69 in holiday-thinned Asian morning yesterday, price briefly dropped to 113.15 in New York morning on soft U.S. PCE data as the lower-than-expected reading quickly led U.S. economists cut their forecast on U.S. Q1 GDP growth.
Looks like range trading below said yesterday's temporary top would continue in Asian morning, however, as dlr is still in trending mode, buying the pair on dips is still the favoured strategy.
Bids are noted at 113.25-15 and more below with stops touted below 112.90, offers are tipped at 113.65/75 and more above with stop reported Book value-bv 114.00.
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