USD/JPY - 91.62 Daily Market Outlook - Dec 23

By IBTimes Staff Reporter | December 23 2009 8:45 PM

Dollar's retreat after testing Tuesday's high at 91.88 yesterday suggests initial consolidation is in store but as long as 90.91/00 holds, outlook remains mildly bullish for marginal gain above said res but anticipated loss of momentum should cap price below previous chart res at 92.33 n yield retreat later. On the downside, a breach of 90.91 (previous res, now support) would yield stronger correction towards 90.35/40 b4 rebound...

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