- USD/JPY extends lower after breaking strong trendline support at 112.95.
- Heavy bearish bias continues, test of 110.50 likely, breaks below could see 110 levels.
- BOJ March Tankan corporate price expectations survey showed that Japanese companies' long-term inflation expectations weakened in March from three months ago.
- Tankan report on Friday showed that business confidence among large manufacturers declined sharply from +12 in Q4 to +6 in Q1, reaching its lowest level since Q2 2013.
- Inflation expectations for three- and five-years ahead have never heightened since the survey began and are raising doubts over whether the BOJ’s stimulus measures are working.
- The pair unable to hold on to gains the back of a solid nonfarm payrolls report in the U.S. and a surprise positive in the ISM manufacturing in the same U.S. session.
- We see Doji formation on technical charts in the Asian session. Price action below daily cloud. Momentum studies bearish.
- Minor support is seen at 111.21 (Mar 21st lows). Breaks below to see test of 110.82 and then 110.50 (trendline support).
- On the upside resistance is seen at 112, 112.14 (5-DMA) and then 112.48 (10-DMA).
- Our previous call (http://www.econotimes.com/FxWirePro-USD-JPY-breaks-trendline-support-at-11295-good-to-sell-rallies-186205) has hit all targets.
Recommendation: Hold for further downside, lower trailing stop to 112.20, target 110.82/110.50


FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption
FxWirePro: GBP/USD dips lower on negative UK retail sales data
FxWirePro- Major Crypto levels and bias summary
FxWirePro:EUR/AUD eases but bullish outlook persists
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact
FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/NZD retreats slightly but trend is still bullish
FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike
FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path
FxWirePro- Woodies Pivot(Major)
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865 



