USD/JPY - 90.10 Daily Market Outlook - Mar 8

08 March 2010 @ 08:26 pm EDT

Although dollar's upside has been capped at 90.69 and intra-day breach of yesterday's 90.15 low, as long as 89.95/00 holds, consolidation with mild upside bias is still seen for re-test of said resistance but a break is needed to extend corrective rise from 88.14 to 90.90/95, however, reckon 91.05/15 would hold today due to loss of momentum.   

  

On the downside, below said 89.95/00 would yield stronger  

retracement of aforesaid upmove to 88.40/45 before rebound takes place.

For more forex information, go to www.acetraderfx.com

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