DAILY MARKET OUTLOOK Update Time: 12 Oct 2015 08:16 GMT
USD/JPY - 120.17
Despite Thursday's sharp retreat to 119.63, subsequent rebound helped by increased risk appetite due to the rally in global equities suggests further choppy trading above September's trough at 118.68 would continue with upside bias and gain towards 120.38, then 120.57 (reaction high) would be seen, break there would retain bullishness for 120.99/00 before prospect of a correction early next week.
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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