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Daily Market Outlook (31 Mar 2020)
Update Time: 31 Mar 2020 07:45GMT
Next Update At: 00:30GMT
USD/JPY - 108.45

Despite the greenback's fall to 107.13 on Monday, subsequent strong rebound to 108.72 today suggests decline from last Tuesday's 1-month peak at 111.71 has possibly made a temporary low there and consolidation with upside bias remains for stronger retracement to 109.06, however, near term loss of momentum would keep price below 109.71 and yield correction later.  
  
On the downside, only below 107.50 would indicate aforesaid recovery has ended instead and risk re-test of 107.12, break would extend to 106.70/80.
 

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