USD/JPY - 89.30 Daily Market Outlook - Feb 8

  on

Dollar traded narrowly yesterday after last week's resumption of erratic decline from 93.78 to 88.55, however, as long as 89.90/00 holds, consolidation with downside bias remains for another fall to 88.75/80 n a break would signal aforesaid decline has resumed n may extend weakness toward 88.00/10 before rebound occurs.    On the upside, breach of 89.90/00 would risk stronger retracement to 90.35/40, however, reckon upside should be capped well below 90.75/80.

Join the Discussion