Monday June 20, 2005 - 02:07:38 GMT
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USD/JPY Daily Outlook
Update Time - 01:30GMT
Next Update - 08:30GMT
Current price action suggests as long as Friday's low at 108.50 holds, consolidation with upside bias is seen for a retracement of the decline from last week's high at 109.72, bring further gain towards 109.40 but above there is needed to signal upmove has possibly resumed.
Below 108.50 would extend weakness to 108.10/20 but 107.75/80 (previous resistance) should contain downside and yield rebound.
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