USD/JPY - 94.05 Daily Market Outlook - May 2

By IBTimes Staff Reporter | May 02 2010 8:35 PM

Friday's selloff from 94.59 and intra-day fall to 93.51 (AUS) suggests further choppy trading below recent 94.78 top would continue with downside bias for retracement of upmove from 84.82 to 93.40/50 and then toward 93.05/10, however, reckon 92.81 support should contain weakness and bring recovery. On the upside, above 94.20/25 would yield another rise to 94.59 but break is needed to bring subsequent re-test of said 94.78 high.

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