DAILY MARKET OUTLOOKUpdate Time: 03 Jul 2015 08:12 GMT
USD/JPY - 123.10
Dollar's retreat after rallying from Tuesday's fresh 1-month trough at 121.94 to as high as 123.75 yesterday suggests the first leg of correction has ended there and choppy trading with downside bias would be seen.
However, reckon price would keep above 122.10 support and bring rebound later.
On the upside, only a move back above 123.75 would signal decline from June's near 13-year peak at 125.86 is still being retraced and yield another corrective up move to 123.99 and then 124.40/50 next week.
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