DAILY MARKET OUTLOOKUpdate Time: 25 Feb 2016 09:37 GMT
USD/JPY - 112.17
Despite the greenback's selloff to a fresh 2-week trough at 111.04, subsequent strong rebound suggests further choppy trading above February's low at 110.99 would continue with upside bias and gain towards 112.63 is likely to be seen. However, as broad outlook remains consolidative, reckon resistance at 113.05 should remain intact and bring another fall later today or early tomorrow.
On the downside, only below 111.04 would revive bearishness for a re-test of 110.99, break would confirm recent downtrend has resumed and yield further weakness towards 110.40/50.
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