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Forex Trading StrategiesUSDJPY remains bid in Asia!
USDJPY found renewed upside on a better than expected US trade balance, but remains in the 119.15-116.70 congestion zone.
MAJOR HEADLINES â€“ PREVIOUS SESSION
â€¢ German Wholesale and consumer prices March, out at 0.5% vs. 0.4% expected.
â€¢ Italy's industrial production sa Feb, out at 0.8% vs. 0.4% expected.
â€¢ UK claiment count March, out at 3.0% vs. 2.9% expected.
â€¢ UK jobless claims change March, out 12.6K vs 6.5K expected.
â€¢ Euro-Zone GDP QoQ, Q4, out at 0.3% in line with expectations.
â€¢ New Zealand ANZ-business NZ PMI March, out at 53.5 vs. a prior reading of 51.2.
â€¢ US trade balance Feb, out at -$65.7B vs. -$67.5b expected.
â€¢ Canadian Int'l merchandise trade Feb, out at C$6.3 vs. C$6.0 expected.
â€¢ US monthly budget statement March, out at -$85.5B vs. -$-84.1B.
â€¢ New Zealand retail sales Feb, out at 1.9% vs. 0.3% expected.
â€¢ New Zealand non resident bond holdings out at 68% vs. prior reading of 64.2%.
â€¢ Japan's domestic CGPI March, out at 0.05 vs. 0.2% expected.
THEMES TO WATCH â€“ UPCOMING SESSION
USD/majors is still range bound and we expect the pairs to remain in tight ranges through Easter, which will likely be the only realistic play right now. US advanced retail sales is out at 12:30 GMT and look for some dollar strength if the number above the expected 0.4%. But the market will like not take out any significant levels breakout levels through the Easter holiday.
Note: the support/resistance levels used in the matrixâ€™s of this document are levels derived from yesterday high, low and close. Reference in the text to other support/resistance levels will occur.
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