DAILY MARKET OUTLOOK USD/JPYUpdate Time: 10 Sep 2014 07:55 GMT
USD/JPY - 106.65
Dollar's intra-day breach of Tuesday's 6-year peak at 106.47 signals long-term uptrend has once again resumed and further gain to projected target at 107.06 would be seen after consolidation, however, loss of momentum should cap price below 107.30/40 and yield a much-needed correction later today or tomorrow.
On the downside, below 106.04 would be the first signal a temporary top is made and shift risk to downside for weakness to 105.71 (previous resistance), break confirms, 105.20/30.
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