DAILY MARKET OUTLOOKUpdate Time: 30 Oct 2015 09:31 GMT
USD/JPY - 120.53
Despite dollar's intra-day rally from 120.30 to 121.48 in Asia following the release of Bank of Japan unchanged rate decision, subsequent retreat after being capped below Monday's 7-week peak at 121.51 suggests further choppy trading inside near term established range of 121.51-120.02 would continue.
Above 121.48/51 would bring resumption of upmove from October's bottom at 118.06 to 121.74 and then 122.10/20, whilst below 120.02 would confirm a top has been made instead and yield correction towards 119.62 next.
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