USD/JPY - 90.66 Daily Market Outlook - Mar 14

14 March 2010 @ 08:32 pm EDT

Despite Friday's resumption of rise to 91.09, dollar's sharp retreat to 90.30 (NY) suggests recent erratic upmove from 88.14 has possibly formed a temporary top there and consolidation with downside bias is seen for a retracement to 90.10/15, below would bring further weakness to 89.83 but reckon 89.60/65 would hold and bring rebound.  

  

On the upside, above said 91.09 temporary high would extend gain marginally to 91.25/30 before correction occurs due to loss of momentum.

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