USD/JPY - 90.40 Daily Market Outlook - Jan 25

By IBTimes Staff Reporter | January 25 2010 7:40 PM

Despite dollar's bounce from yesterday's marginal low of 89.71 and intra-day's rise 90.48, as long as over head 90.57 resistance holds, downside bias remains for the decline from 93.78 to resume after consolidation n below 89.90/95 would signal correction is over and bring subsequent re-test of said 89.71 low, below, 89.45/50 later. Above 90.55/60 would suggest aforesaid fall has indeed formed a temporary low yesterday but break of 90.80/90 is needed to confirm, 91.20/30.

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