USD/JPY Daily Outlook

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USD/JPY Daily Outlook
Mon, Aug 18 2008, 03:08 GMT
by AceTrader Team
AceTrader
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INTRA-DAY USD/JPY OUTLOOK: 110.27
Updating time :18 Aug 2008 02:20 GMT
Despite intra-day euro-led selloff to 109.97,
dlr's subsequent rebound on cross selling in yen
suggests retreat fm Friday's high at 110.67 has pos
sibly ended but abv 110.55 needed to signal upmove
has resumed n bring re-test of 110.67 later.
Below 109.97 wud risk correction of recent rise
twd 109.57. Stand aside n hold long for day trade..
Range Forecast
110.10 / 110.40
Resistance/Support
R: 110.67/111.00/111.50
S: 109.97/109.57/109.31
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Published on
Mon, Aug 18 2008, 03:20 GMT
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