USD/JPY - 90.66 Daily Market Outlook - Nov 5

05 November 2009 @ 08:55 pm EDT

Despite dollar's rebound from yesterday's European session low at 89.98 (in part due to cross selling in yen), if our that the upmove from 89.18 has formed a temporary top at 91.34 is correct, mild downside bias remains for another fall and below aforesaid support at 89.98 would yield subsequent weakness to 89.50/60.  

  

On the upside, only a breach of 91.34 would indicate aforesaid erratic rise from 89.18 has resumed instead and extend gain to 91.63.

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