USD/JPY - 89.27 Daily Market Outlook - Mar 4

 @ibtimes
on March 04 2010 8:29 PM

Despite yesterday's resumption of recent to 88.14, subsequent anticipated strong rebound suggests erratic decline from 93.78 (Jan) has formed a temporary low there and intra-day upside bias remains, however, breach of recent good resistance at 89.49/51 is needed to bring stronger retracement to 89.95/00.    On the downside, below 88.85/90 would bring pullback to 88.50/60 but only a break would signal aforesaid correction has possibly ended, 88.30/35 first.

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