DAILY MARKET OUTLOOK Update Time: 05 Aug 2015 08:00 GMT
USD/JPY - 124.38
Dollar's rally to 124.48 in New York afternoon on Tuesday after hawkish comments from Atlanta Fed President Dennis Lockhart signals correction from last Thursday's 7-week peak at 124.58 has ended at Friday at 123.52 and re-test of this resistance is forthcoming soon, break would confirm up-move from 120.42 (July) has resumed bring further headway towards 125.00/07 later.
On the downside, only below 123.80 would shift risk to downside for another drop to 123.52 but below there is needed to yield stronger retracement of aforesaid rise from 120.42 towards 123.01.
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