USD/JPY - 91.08 Daily Market Outlook - Jan 14

By IBTimes Staff Reporter | January 14 2010 8:43 PM

Despite yesterday's cross-inspired rise to 92.05, due to return of risk appetite for yen carry trades, subsequent selloff to 90.84 in NY session suggests the recovery from Tuesday's low of 90.73 has ended and breach of this sup wud confirm early decline from last week's 4-month high of 93.78 has once again resumed, loss of momentum is expected to keep price above 90.15 today and bring rebound later. On the upside, only above said yesterday's high would prolong current choppy consolidation and risk stronger gain but reckon res at 92.67/71 would cap dollar's upside.

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