USD/JPY - 89.40 Daily Market Outlook - Feb 7

07 February 2010 @ 08:13 pm EDT

Friday's bounce from 88.82 suggests further choppy trading above last week's low of 88.55 is expected to continue, however, as long as 89.89 resistance holds, consolidation with downside bias remains and below said 88.82 support would yield resumption of erratic decline from 93.78 toward 88.00/10 later.  

  

On the upside, above 90.10/20 would bring stronger retracement of aforesaid decline to 90.55/60 and possibly toward 90.75/80.

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