DAILY MARKET OUTLOOK Update Time: 30 Jul 2015 08:24 GMT
USD/JPY - 124.17
Although dollar's stronger rebound from Monday's low at 123.01 and then intra-day break of resistance at 124.19 confirms correction from last week's 5-week top at 124.48 has ended there and choppy trading with upside bias remains, above said temporary high would yield resumption of early up-move from 120.42 (July) to towards 125.00/07 which is likely to hold today due to near term overbought condition.
On the downside, below 123.80 (previous resistance, now support) would prolong choppy trading but support at 123.01 should remain intact.
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