USD/JPY - 92.33 Daily Market Outlook - Jan 10

By @ibtimes on

Despite dollar's initial rise to a fresh 4-month high of 93.78 in Australia last Friday, subsequent selloff to 92.27 confirms recent upmove has formed a temporary top there and choppy consolidation with downside bias is seen this week for a long overdue minor correction towards 91.15 before prospect of a rebound.  
  
Today, expect price to remain under pressure due to dollar's broad-based decline and reckon 92.83 would cap recovery, bring further weakness to 91.60/70.

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