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Daily Market Outlook (19 Jan 2017)
Update Time: 19 Jan 2017 08:15GMT
Next Update At: 00:30GMT
USD/JPY - 114.81

The greenback's intra-day fall below yesterday's trough at 113.64 signals erratic decline from December's 10-1/2 month peak at 118.66 remains in progress and consolidation with downside would be seen for weakness towards 112.88/90, however, over sold condition would prevent steep fall below there and reckon 112.42 would remain intact initially and yield a much-needed rebound later this week.  
  
On the upside, only above 114.25 (previous support, now resistance) would indicate a temporary low has been made and risk stronger retracement towards 115.45.
 

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