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Daily Market Outlook (17 Apr 2014)
Update Time: 17 Apr 2014 08:16GMT
Next Update At: 00:30GMT
USD/JPY - 102.00

The greenback's retreat from yesterday's high of 102.37 to 101.86 (Asia) today suggests correction from last Friday's low at 101.32 has ended there and consolidation with downside bias is seen, however, breach of said sup is needed to signal decline from Apr's 2-1/2 month peak at 104.13 has resumed and extend to 101.21 (Mar 14 low) and then 2014 bottom at 100.76 (February).  
On the upside, above 102.37 would bring stronger retracement towards 102.73/74 instead but resistance at 103.00 (previous sup) should remain intact.

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