USD/JPY - 89.62 Daily Market Outlook - Jan 26

By IBTimes Staff Reporter | January 26 2010 7:41 PM

Dollar's selloff to 89.35 yesterday signals recent decline from 93.78 has once again resumed and as long as 90. 55/60 holds, further weakness to 89.10/20 is likely after consolidation, however, as this fall is losing momentum, reckon 88.90/00 should contain downside and yield a much-needed correction later. On the upside, only abv 90.55/60 would indicate aforesaid fall has possibly formed a temporary low and retracement to 91.15/20 would follow.

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