FX TALKING POINTS:
- Gold Price Outlook Mired by Bearish Outside-Day (Engulfing) Candle. Relative Strength Index (RSI) Flops Ahead of Overbought Territory.
![DailyFX Table](https://a.c-dn.net/b/0x8RWd/Gold-Price-Outlook-Mired-By-Failed-Attempt-to-Test-February-High_body_DailyFXTable03282018.png)
USD/JPY REBOUND FIZZLES FOLLOWING DISMAL U.S. CONSUMER CONFIDENCE SURVEY.
![USDJPY Table](https://a.c-dn.net/b/1zwfGi/Gold-Price-Outlook-Mired-By-Failed-Attempt-to-Test-February-High_body_USDJPYTable03272018.png)
USD/JPY struggles to preserve the advance from earlier this week as the U.S. Consumer Confidence survey unexpectedly narrows in March[1], but updates to the 4Q U.S. Gross Domestic Product (GDP) report may ultimately fuel the near-term rebound in dollar-yen[2] should the fresh figures encourage the Federal Open Market Committee (FOMC) to deliver four rate-hikes in 2018.
The final revision to the GDP report is expected to show an uptick in the growth rate, with the economy projected to grow an annualized 2.7% versus an initial forecast of 2.5%. A batch of positive developments may heighten the appeal of the greenback as it raises the Fed’s scope to extend its hiking-cycle, and the FOMC[3] may prepare U.S. households and businesses for an imminent rate-hike as ‘the Committee expects that economic conditions will evolve in a manner that will warrant further gradual increases in the federal funds rate.’
However, another set of below-forecast prints may continue to undermine the near-term rebound in USD/JPY, with the pair at risk of facing choppy prices as market participation is likely to thin ahead of the Easter holiday.
USD/JPY DAILY CHART
![USD/JPY Daily Chart](https://a.c-dn.net/b/2tvmXA/Gold-Price-Outlook-Mired-By-Failed-Attempt-to-Test-February-High_body_USDJPYDailyChart03282018.png)
![XAUUSD Table](https://a.c-dn.net/b/2vG9HX/Gold-Price-Outlook-Mired-By-Failed-Attempt-to-Test-February-High_body_XAUUSDTable03272018.png)