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Technicals

USD/JPY - 99.30 Daily Market Outlook - Oct 9

09 Oct, 2008 @ 08:20 pm EST
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Despite yesterday's brief but strong rebound to 101.49, subsequent selloff due to active cross buying in jpy on risk aversion pressured price again and recent decline from 110.67 has resumed, bring further weakness to 98.00 and possibly towards 97.00.  

  

On the upside, only a breach of 100.20 would signal temporary low is made and bring another corrective rise to 101.49...

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