USD/JPY - 89.40 Daily Market Outlook - Oct 13

By IBTimes Staff Reporter | October 13 2009 8:44 PM

The greeback met renewed selling interest at 89.05 in U.S. afternoon session and fell again in Asian morning today, suggesting decline from Monday's high of 90.47 to retrace the upmove from last week's 8-month low of 88.01 remains in progress n weakness to 88.95 cannot be ruled out, however, breach of pivotal support at 88.65 is needed to confirm correction is over and yield resumption of decline for re-test of said sup. On the upside, above 90.05 would bring re-test of 90.47 resistance, break would bring stronger retracement to 90.82...

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