USD/JPY - 95.89 Daily Market Outlook - Nov 19

19 November 2008 @ 08:21 pm EDT

Yesterday's cross-inspired selloff suggests the correction from 94.48 has ended earlier at 98.30 and consolidation with mild downside bias is seen, however, a break below previous support at 95.13 is needed to signal recent erratic decline from 100.56 has finally resumed and bring re-test of said low.  

  

Above 96.60/70 would prolong choppy trading inside the range of 94.48-98.30 and yield rebound to 97.10/20 but resistance at 97.56 should limit upside.

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