- USD/JPY has bounced off from multi-month lows at 110.66 on 17th March, but is seen strugling to extend gains.
- The major is extending range trade, and we see further weakness on breach of 110.75 support.
- CFTC speculative positioning for the week ending 15 March 2016 showed that long USD positions reduced sharply.
- Leveraged funds increased their net JPY longs for a fifth consecutive week by a further USD1bn to USD4.6bn, a new high in this cycle.
- Major calendar events this week which could influence the pair include US Durable goods (Thursday), Q4 GDP (third estimate) (Friday), Japan CPI Y/Y (Thursday).
- Tehnical indicators are inconclusive, momentum studies are neutral, weakness only on breaks below 110.75.
Resistance Levels:
R1: 111.75 (Mar 18th highs)
R2: 112 (5-DMA)
R3: 112.26 (Feb 24th highs)
Support Levels:
S1: 111.04 (Feb 24th lows)
S2: 110.97 (Feb 11th lows)
S3: 110.75 (Trendline)


FxWirePro: GBP/NZD down trend loses steam, remains on bearish path
NZDJPY Bulls Charge Toward 95.00: Safe-Haven Exodus Drives Kiwi Rally
Ethereum’s Healthy Correction: Bulls Eye Strategic Re-Entry at 2,150 USD Following Profit-Booking Pullback
FxWirePro: USD/CAD extends decline on broad dollar weakness
FxWirePro- Woodies Pivot(Major)
FxWirePro- Major Crypto levels and bias summary
FxWirePro: EUR/AUD under pressure as key support gives way
FxWirePro: AUD/USD retreats slightly but trend is still bullish
Kiwi Ascendant: NZDJPY Bulls Eye Multi-Year Peaks Amid Triple-Day Rally
FxWirePro:NZD/USD uptrend loses momentum but bullish setup remains
Ethereum Consolidates: Bullish Technicals Point to a Potential $3,000 Breakout
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption
Bitcoin’s Volatile Reset: ETFs Rebound as Bulls Eye USD 80,000 Milestone
FxWirePro- Major Pair levels and bias summary
Aussie Consolidates After Peak: AUDJPY Bulls Eye a Strategic Entry for the 115.00 Target
FxWirePro: GBP/AUD positions for another drop, eyes 1.8900level 



