USD/JPY held steady, just below six-year highs at 107.25 as the diverging monetary policy stance between the Fed and the Japanese central bank continued to pressure the yen lower.The yen came under pressure last week after Bank of Japan Governor Haruhiko Kuroda said that the bank would be prepared to immediately loosen monetary policy or implement other measures if its 2% inflation target becomes difficult to meet.The euro fell against the dollar, to trade close to 14-month lows with EUR/USD down 0.32% to 1.2924.Market sentiment weakened after data on Saturday showed that Chinese industrial output slowed sharply last month.
INTRADAY OUTLOOK
Support: 106.82
Resistance: 107.45
RECOMMENDATION:
1. Buy USD/JPY Above 107.47-TG:107.67/107.97 SL 107.17
2. Sell USD/JPY Below 106.80-TG:106.60/106.30 SL 107.10
INTRADAY OUTLOOK
Immediate Support:1.6209
Immediate Resistance:1.6284
RECOMMENDATION:
1. Buy GBP/USD Above 1.6286-TG:1.6306/1.6336 SL 1.6256
2. Sell GBP/USD Below 1.6207-TG:1.6187/1.6157 SL 1.6237
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