DAILY MARKET OUTLOOK
Update Time: 12 Apr 2016 08:23 GMT
USD/JPY - 108.18
Despite dollar's selloff to a fresh 17-month trough at 107.63 in Asian session on Monday, subsequent intra-day rebound to 108.44 in New York morning suggests MT downtrend has possibly made a temporary bottom there and a few days of choppy sideways trading would be seen.
However, as long as resistance at 109.10 holds, bearishness remains for another selloff later this week.
On the downside, below 107.63 would yield further weakness towards 107.20/30 before correction occurs due to loss of momentum.
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