USD/JPY - 90.45 Daily Market Outlook - Mar 21

By IBTimes Staff Reporter | March 21 2010 8:29 PM

Despite Friday's sideways trading, as the early strong rebound from 89.75 suggests pullback from 91.09 has ended there, consolidation with upside bias is seen for re-test of said resistance, break would yield resumption of recent rise from 88.14 to 91.20/30 and then 91.45/50 later. On the downside, below 90.00/05 would prolong choppy trading but only below 89.75 would signal aforesaid said upmove has indeed formed a temporary top at 91.09 and risks stronger retracement to 89.55/60.

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