USD/JPY Daily Outlook

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USD/JPY Daily Outlook
Fri, May 9 2008, 01:49 GMT
by AceTrader Team
AceTrader
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INTRA-DAY USD/JPY OUTLOOK: 103.90
Updating time :08 May 2008 23:12 GMT
Although dlr's rebound fm y'day's cross-inspired
selloff to 103.40 suggests recent 'erratic' decline
has made a temp. low n initial sideways trading is
envisaged in Asia, reckon 104.10/20 wud cap upside
n yield subsequent retreat.
Sell on further rise for this move n only abv
104.44 (NY high) wud abort bearishness on dlr...
Range Forecast
103.75 / 104.15
Resistance/Support
R: 104.08/104.59/104.95
S: 103.40/103.22/103.00
----------------------------------------------------Published on
Fri, May 9 2008, 01:59 GMT
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