USD/JPY - 86.61 Daily Market Outlook - Jul 29

29 July 2010 @ 08:26 pm EDT

Yesterday's breach of support at 86.82 confirms dollar's correction from this month's near 8-month low at 86.27 has ended at 88.12 (Wednesday) and outlook is turned from consolidative to bearish, a resumption of Mid-term decline from 94.99 (May) 85.86 is seen but loss of momentum should keep price above 85.45/50.  

  

On the upside, only a rise above 87.45 would indicate further choppy trading is seen and may yield gain toward 87.72/78.

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

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