The daily forex analysis on March 16, 2021 this time discusses the movement of the Japanese Yen versus the US Dollar weakened in market trading last Monday, the weakening of the Yen was the impact of the strengthening of the US Dollar. The strengthening of the US dollar is driven by good economic data that has been released, the data is the US Empire State Manufacturing Index data. In today's market trading in the Asian session, the Japanese Yen is expected to continue its weakness. The focus of Japanese economic data that will be released today is the Revised Industrial Production Data at 11:30 WIB and the Speech from the chairman of the Bank of Japan (BOJ) will be released (tentative time) in the prediction that it will have a big impact on the movement of USDJPY. The US dollar today Tuesday 16 March 2021 strengthened against several other major currencies in market trading in the Asian session. The strengthening of the US Dollar is supported by the high yield of US government bonds for long-term tenors. However, market participants are still waiting and observing the policy of the chairman of the US Central Bank The Federal Reserve, this will be conveyed on Thursday. This makes market participants more cautious or wait and see. Today the United States will release economic data, including: - Retail Sales & Core Retail Sales (released at 19:30 WIB) - Industrial Production (released at 20:15 WIB) - NAHB Housing Market Index (released at 21:00 WIB) These three economic data will make the movement of the US Dollar's condition against other major currencies as well as against other commodities such as Gold and Oil.
Forex Daily Analysis Predictions 
Today's FOREX prediction on the USDJPY pair is expected to strengthen/decline and the recommended OP (Open Position) is
SELL at the level of 109,000. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points.
| Preference |
BEARISH |
| Target Profit 1 |
108,900 |
| Target Profit 2 |
108,800 |
| Stop Loss 1 |
109,050 |
| Stop Loss 2 |
109,100 |
This the daily analysis of forex on March 16, 2021. Keep Money Management and Risk Management first in your trading. Visit GIC Indonesia to get information about the world of
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