USD/JPY - 93.79 Daily Market Outlook - May 5

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Dollar's failure to penetrate Tuesday's high of 94.99 n subsequent selloff to 93.54 suggest further choppy below there would continue but below 93.51/54 support is needed to confirm recent erratic upmove from 84.82 has formed a temporary top and yield retracement toward 92.75/80.    On the upside, above 94.35/40 would prolong consolidation and may bring rebound to 94.75/80, however, said 94.99 resistance should remain intact.

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