DAILY MARKET OUTLOOK Update Time: 08 Oct 2015 08:47 GMT
USD/JPY - 119.80
Despite Friday's swift selloff from 120.41 to 118.68 after the release of disappointing U.S. jobs report, subsequent strong rebound due to the rally in Dow Jones suggests further choppy trading above September's low at 118.60 would continue with mild upside bias and above 120.41 would yield stronger gain to 120.66/70.
However, near term loss of momentum would keep price below resistance at 120.99.
On the downside, only below 119.21 would abort daily bullishness on the buck and turn outlook bearish for weakness towards 118.60/68 area.
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