0147 GMT – USD/JPY Intraday: bullish bias above 111.75. Although the pair has retreated from yesterday’s high of Y112.30, the dollar remains above support at Y111.75. Even though a continuation of the consolidation can’t be ruled out, its extent should be limited. Above Y111.75, look for a further rise to Y112.30 and possibly Y112.55. Alternatively, a break could bring back Y111.55 and Monday’s low of Y111.20. [This piece contains the opinions of Trading Central and does not constitute personalized investment advice or form part of any invitation or inducement to buy or sell any security. The author has been prohibited by Trading Central from purchasing or otherwise directly or indirectly acquiring any direct or indirect beneficial ownership of any instruments or markets for which Trading Central or its affiliates issues recommendations. To read more, visit bit.ly/1MehCU9] ([email protected])
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