DAILY MARKET OUTLOOKUpdate Time: 16 Mar 2016 8:24 GMT
USD/JPY - 113.68
Despite yesterday's brief rise to 114.15 in Asian morning after Bank of Japan's rate decision, subsequent sharp retreat suggests further choppy trading inside recent broad range of 114.56-112.23 would continue with downside bias and weakness towards 112.61 would be seen, however, indicated lower level would remain intact and yield rebound later today.
On the upside, only above 114.15 would revive bullishness for a re-test of March's peak at 114.56, break would extend towards 114.88 before retreat.
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