USD/JPY - 89.00 Daily Market Outlook - Nov 19

19 November 2009 @ 08:34 pm EDT

Although yesterday's breach of previous sup at 88.73 confirms recent 'erratic' decline has resumed and expect initial consolidation before bringing further weakness, near term loss of momentum should prevent steeo fall today and reckon daily chart sup at 88.01 would remain intact.   

On the upside, only above good res area at 89.50/55 would signal a temporary low has ben formed and bring stronger retracement to 89.90/00.

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