DAILY MARKET OUTLOOK
Update Time: 06 Apr 2016 09:17 GMT
USD/JPY - 110.32
Dollar's cross-inspired selloff to a fresh 17-month trough at 109.92 confirms MT downtrend from 2015 peak at 125.86 has resumed and further weakness to 109.80 and then 109.50/60 would be seen.
However, loss of momentum should keep price well above 109.00 ahead of FOMC minutes later today.
On the upside, only a daily close above 111.06/10 would indicate a temporary low has been made and yield retracement to 111.37, then 111.80 before prospect of a retreat.
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