USD/JPY - 104.45 Daily Market Outlook - Jun 2

02 June 2008 @ 08:19 pm EDT

Y'day's selloff to 104.02 signals recent erratic upmove has indeed formed a top earlier at 105.88, although subsequent rebound suggests consolidation with mild upside bias wud be seen, reckon 104.65 (prev. sup) wud limit upside n yield another fall.  

Below 104.02 wud extend aforementioned corrective decline to 103.89 but loss of momentum shud limit downside to 103.50/60 n yield rebound later.

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