USD/JPY - 89.96 Daily Market Outlook - Feb 10

on February 10 2010 9:23 PM

Dollar's strong rebound from over-night 89.25 low and subsequent breach of 90.02/05 resistance signals erratic upmove from 88.55 to retrace decline from 93.78 has resumed and further headway toward 90.55/60 and then 90.80 is envisaged, however, reckon daily resistance at 91.28 should remain intact and yield retreat.    On the downside, below 89.25 would indicate aforesaid upmove has possibly ended and break of 88.80/85 would confirm and yield re-test of 88.55 low later.

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