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Short

USD/JPY capped below trendline at 109.35, short for 108.50

FX:USDJPY   U.S. Dollar/Japanese Yen
188 0 5
USD/JPY             slips below 109 handle, extends downside from trendline resistance.

Technicals on intraday charts point further downside. Momentum studies point south.

USD weak across the board after poor housing data overnight. US housing starts fell 8.8% in March following an upwardly revised 6.9% gain in February.

Sentiment across markets remains mixed, with the Chinese stocks extending losses, while rest of Asia gains further.

Good to sell rallies around 109, SL: 109.40, TP: 108.60/108.50
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