- USD/JPY is extending recovery from Friday’s sell-off and is on track to regain 109 handle.
- Reports that PM Abe may put-off a sales tax hike diminished safe-haven bids for the yen amidst surging Japanese stocks.
- But Japan chief cabinet secretary Suga later dismissed media reports that PM Abe has decided to delay a sales tax hike scheduled for next year.
- He said that hike will go ahead unless there was a financial crisis on the scale of the Lehman Brothers collapse or a major natural disaster.
- The pair has given up some gains and trades around 108.75, we would recommend buying on dips.
- Techs support upside in the pair, major support lies at 108 (Psychological level and 10-DMA ), while major resistance is seen at 108.81 (21 day MA).
- Focus remains on Fed minutes, CPI and industrial production data due for release this week that will provide fresh direction on the major.
Recommendation: Buy dips around 108.70/75, SL: 108.20, TP: 109/109.50


FxWirePro:NZD/USD drifts lower, could be on verge of bigger drop
GBPJPY Consolidates Above 215 on Bullish Momentum: Buy Dips Toward 217
AUDJPY Holds Firm Above 112 on Broad Yen Weakness: Buy Dips Toward 115
FxWirePro: GBP/AUD edges higher but bulls lack punch
AUDJPY Rebounds on Yen Weakness – Bullish Buy Setup Above 112 Targets 115
GBPJPY Surges on Yen Weakness – Bullish Dip Buy Eyes 217
FxWirePro:' USD/CAD faces downside risk below 1.4000
FxWirePro: GBP/NZD gains some upside momentum, but outlook is bearish
FxWirePro- Major Crypto levels and bias summary
FxWirePro: EUR/AUD bears maintain upper hand
FxWirePro- Woodies pivot (Major)
FxWirePro: USD/CNY hovers near 3-1/2-year low ahead of U.S. data
FxWirePro: AUD/USD range bound ahead of RBA policy decision
FxWirePro: AUD/USD eases as investors switch focus to RBA
FxWirePro: GBP/USD trades sideways as markets await U.S. inflation and UK GDP data
EURGBP Weakens After Doji – Bearish Bias Intact Below 0.8600, Sell Rallies 



