[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]30 Nov 2016[/B] [I]09:15 GMT[/I]
USD/JPY - 112.80
Despite the greenback’s rally last week to a fresh 8-month 113.90 on Friday, subsequent selloff to as low as 111.36 today suggests a temporary top has been made and consolidation with downside bias would be seen for stronger retracement towards 110.89/90, however, near term loss of momentum would prevent steep fall beyond there and risk would increase for a rebound later this week.
On the upside, only above 112.98 would indicate the first leg of correction has ended and turn outlook bullish for gain towards 113.31, then to 113.53.
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