USD/JPY - 90.50 Daily Market Outlook - Mar 11

11 March 2010 @ 11:16 pm EDT

Despite dollar's retreat from 90.72, subsequent rebound from 90.33 strongly suggests pullback from Wednesday's 90.83 high has ended earlier yesterday at 90.20 and upside bias is retained for recent erratic upmove from 88.14 to resume after consolidation and above said 90.83 high would extend gain to 91.00/05 later.  

  

On the downside, below 90.20 would prolong choppy trading and a stronger retracement to 89.80/90 is likely, however, 89.63 should contain downside.

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