] [B]DAILY MARKET OUTLOOK [/B]
Update Time: 02 Oct 2015 [I]08:26 GMT[/I]
[B]USD/JPY - 120.11[/B]
Despite the greenback’s selloff to 119.25 on Monday, subsequent rebound suggests further choppy trading above September’s low at 118.60 would continue with mild upside bias and gain towards 120.66 is likely to be seen, break would extend towards 120.99, however, last Friday’s high at 121.24 should remain intact and yield retreat later.
On the downside, only below 119.25 would revive bearishness for weakness to 119.06, below would indicate near term decline from 121.35 has resumed and extend to 118.86 but aforesaid September’s low should remain intact.