DAILY MARKET OUTLOOKUpdate Time: 07 Mar 2016 09:05 GMT
USD/JPY - 113.62
Despite the greenback's rally to 114.56 last Tuesday, subsequent sharp retreat to 113.12 last Friday on poor U.S. wage growth data suggests further choppy trading below February's high at 114.88 would continue with mild downside bias and marginal weakness towards 112.80/90 is likely to be seen.
However, as broad-outlook remains consolidative, reckon price would hold well above support at 112.38 and yield rebound.
On the upside, only above 114.56 would revive bullishness for a re-test of 114.88, break would confirm erratic upmove from 110.99 has once again resumed and extend towards 115.30/40.
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