DAILY MARKET OUTLOOKUpdate Time: 07 Dec 2015 08:22 GMT
USD/JPY - 123.35
Despite the greenback's strong retreat from 123.68 (Wed) to 122.30 last Thursday, subsequent rebound on the release of upbeat U.S. jobs report suggests consolidation with upside bias remains and above 123.68 would yield a re-test of November's fresh 12-year peak at 123.77, break would extend towards 124.00/10 before prospect of a much-needed correction due to loss of momentum.
On the downside, only below 122.64 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness towards 122.30.
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