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Daily Market Outlook (20 Aug 2018)
Update Time: 20 Aug 2018 08:17GMT
Next Update At: 00:30GMT
USD/JPY - 110.63

The greenback's break of previous support at 110.43 to 110.32 on Friday suggests correction from August's 6-week trough at 110.11 has ended at 111.43 last Wednesday and consolidation with downside bias would be seen for decline from July's 6-month peak at 113.17 to resume and yield re-test of aforesaid support, break would extend towards 109.88/90, however, over sold condition would keep price above 109.50/60.  
  
On the upside, only above 111.43 would revive bullishness for a stronger retracement towards 111.70/80 before prospect of retreat.
 

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