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EUR/USD
Date: Tue, 1 July 2008 12:30:05
Resistance levels: 1.5800/1.5850/1.5890
Support levels: 1.5730/1.5700/1.5630/1.5580
EUR/USD has reversed above 1.5770 earlier today Today focus will be on US ISM Manifacturing Index at 14:00 GMT The consensus is at 48.5 No change in our view. As long as price holds above 1.5730 first Support the uptrend remains intact for test towards towards 1.5840-50 area if the number comes out at 47.5 or lower and 1.5890 over the next trading sessions First important Resistance comes at 1.5840 On the other side, if the number comes out at 50.0 or higher ease back to 1.5730 first Support may be seen after the event later today

Strategy-neutral


GBP/USD
Date: Tue, 1 July 2008 12:30:04
Resistance levels: 1.9960/2.0020/2.0100
Support levels: 1.9900/1.9850/1.9760/1.9730
GBP/USD has risen to 2.0 highs earlier today despite the disappointing UK PMI Index numbers No change in our view. The uptrend remains intact for further upmove higher towards 2.0020 in short term and 2.0100 over the next trading sessions On downside, stronger than expected fundamental data from USA may turn price back to 1,.9900-8900 area Trade from long side for test towards 2.0020 and 2.0100 in mid term

Strategy-neutral.


USD/JPY
Date: Tue, 1 July 2008 12:30:03
Resistance levels: 106.00/106.50/107.20
Support levels: 105.50/105.00/104.20
USD/JPY has tested 105.00 our down target over the last trading sessions as it was suggested in our previous reports On downside, the bias remains bearish and retest of 105.00 may be seen later today and then 104.20 in mid term On the other side, first Resistance stands near 106.00, however, a break above 106.50 is required to confirm reversal in the bias for retest of 107.80 highs

Strategy-neutral

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EUR/USD
Date: Mon, 16 June 2008 12:30:05
Resistance levels: 1.5530/1.5570/1.5630
Support levels: 1.5450/1.5400/1.5310


EUR/USD has recovered beyond 1.5450 our suggestion earlier today , supported by higher than expected Eurozone Consumer Price Index numbers On the upside , the upmove remains intact for test towards 1.5570 over the next trading sessions and 1.5630 in mid term On downside, first immediate Support comes near 1.5450 Below turns price back to 1.5400 and 1.5310 Friday bottom

Strategy-neutral


GBP/USD
Date: Mon, 16 June 2008 12:30:04
Resistance levels: 1.9680/1.9740/1.9800
Support levels: 1.9600/1.9530/1.9500/1.9400

GBP/USD has recovered heavily directly beyond 1.9660 previous highs and our target earlier today as it was suggested The upmove remains intact with next targets at 1.9740 later tody and 1.9800 over today and tomorrow On the other side, first important Support comes at 1.9600 Below that levels eases price back to 1.9500 and 1.9400 lows

Strategy-neutral.


USD/JPY
Date: Mon, 16 June 2008 12:30:03
Resistance levels: 108.60/109.00/110.00
Support levels: 107.80/107.00/106.50/105.80

USD/JPY has risen towards 108.60 our target over the last trading sessions as it was suggested , easing back towards 107.80 first important Support earlier today Now there is important Support near 107.50 Below turns price back to 106.60-50 region in mid term On the upside, in longer term the uptrend is still intact with next targets at 109.00 and 110.00 Fisrt key Resistance is at 108.60

Strategy-neutral

Fundamental Forecast

2/1/2008 3:50 PM: EUR/$..1.4798 $/JPY..106.57 GBP/$..1.9665 $/CHF..1.0888 AUD/$..0.9039 $/CAD..0.9934

USD Resilient to Dismal Payrolls by Korman Tam

The dollar shrugged off a dismal labor report in early Friday trading – slipping initially following the release, but rallying sharply after traders digested the news. The greenback fell just shy of a fresh all-time low against the euro at 1.4954 before surging to 1.4788 while pushing the sterling beneath the 1.97-level to 1.9655.

The non-farm payrolls for January unexpectedly contracted by 17k, considerably worse than calls for an increase of 80k – and shrinking from an 18k increase in payrolls in the previous month. The unemployment rate, however, improved to 4.9%, drifting from 5.0% a month earlier. Average earnings edged up by 0.2%, but down from 0.4% previously, while the average work week was marginally lower at 33.7 hours. Also released today were January manufacturing ISM, which defied estimates for a decline to 47.3 from 47.7, instead improving to 50.7 and the University of Michigan consumer sentiment survey, improving to 78.4 from 75.5.

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EUR/USD
Date: Fri, 1 February 2008 13:10:05
Resistance levels: 1.4900/1.4920/1.4965
Support levels: 1.4800/1.4750/1.4700

EUR/USD has risen to 1.4900 first Resistance earlier today Today all eyes will be on US Non Farm Payrolls numbers at 13:30 GMT The consensus is at 65 K The break beyond 1.4780 signals for retest of 1.4965 record highs at least over the next trading sessions and even 1.50 psychological level if the number comes out at 20 K or more negative On downside, if the number comes out at 130 K or higher may turn price back directly towards 1.4780-50 region later today First Support comes near 1.4800 daily lows Look to buy again on pullback for test higher towards 1.4920 and even 1.4965

Buy EUR/USD at 1.4900,Stop-loss-1.4860, Take profit-1.4960( 1.5010)

GBP/USD
Date: Fri, 1 February 2008 13:10:04
Resistance levels: 1.9900/2.0020/2.0150
Support levels: 1.9820/1.9800/1.9730

GBP/USD still trading in wide range over the last trading sessions No change in our view The break above 1.9790 previous important levels recovers price beyond 1.9900 and opens territory for test of the target at 2.0020 later today on weak US data The longer term target is around 2.0150 On downside, below 1.9730 Support eases price back to 1.9600 bottom in mid term In short term, a break below 1.9825-20 lows area may cause sharp fall to 1.9730 later today.

Strategy-neutral.

USD/JPY
Date: Fri, 1 February 2008 13:10:03
Resistance levels: 107.00/107.50/107.90
Support levels: 106.00/105.00/104.20

USD/JPY has traded flat over the last trading session No change in our view. The bias remains bearish for further downmove below 106.00 and even towards 104.20 in longer term as long as price remains below 107.90 key level First Support comes near 106.00 ahead 105.00 stronger one Disapointing data from USA later today may cause sharp fall towards 105.00 over the next trading sessions On the upside, a break above 107.90 again signals for reversal in the bias and test of 108.50 and 110.10 in longer term First Resistance comes near 107.00 ahead of 107.50 yesterday highs Stronger than expected Jobless data from USA may boost price heavily towards 107.50 and 107.90 after the event

Buy USD/JPY at 106.85, Stop-loss-106.45, Take profit-107.45( 107.85)

Easy Money Alert

EUR/USD
Date: Thu, 31 January 2008 13:10:05
Resistance levels: 1.4900/1.4920/1.4965
Support levels: 1.4820/1.4750/1.4700

EUR/USD has risen sharply beyond 1.4900 again earlier today ( just a shy away from our second target at 1.4920) We have booked 60 pip profit for the first part of our Long position Unfortunately, the rest of the position has been stopped at 1.4830 with small 10 pip profit Today focus will be on the US Core PCE numbers at 13:30 GMT The consensus is at 0.2% The break beyond 1.4780 signals further upmove towards 1.4920 and retest of 1.4965 record highs over the next trading sessions if the number comes out at 0.0% or more negative On downside, ease back to first Support comes around 1.4820 is possible if the number comes out at 0.4% or higher Look to buy again on pullback for test higher towards 1.4920 and even 1.4965 in longer term

Holding EUR/USD Long at 1.4820,Stop-loss-1.4830( up from 1.4780) ,Take profit-1.4880( 1.4920)

GBP/USD
Date: Thu, 31 January 2008 13:10:04
Resistance levels: 1.9900/2.0020/2.0150
Support levels: 1.9820/1.9800/1.9730

GBP/USD still trading in wide range over the last trading sessions No change in our view The break above 1.9790 previous important levels recovers price beyond 1.9900 and opens territory for test of the target at 2.0020 The longer term target is around 2.0150 On downside, below 1.9730 Support eases price back to 1.9600 bottom in mid term In short ter, a break below 1.9825-20 lows area may cause fall to 1.9730 over today and tomorrow .

Strategy-neutral.

USD/JPY
Date: Thu, 31 January 2008 13:10:03
Resistance levels: 107.00/107.50/107.90
Support levels: 106.00/105.00/104.20

USD/JPY has tested 106.00 our target after FED Rate Decision as it was suggested No change in our view. The bias remains bearish for further downmove below 106.00 and even towards 104.20 in longer term as long as price remains below 107.90 key level First Support comes at 106.00 ahead 105.00 stronger one On the upside, a break above 107.90 again signals for reversal in the bias and test of 108.50 and 110.10 in longer term First Resistance comes near 107.00 ahead of 107.50 yesterday highs Trade from short side for test towards 105.00 and even 104.20 over the next trading sessions

Sell USD/JPY at 106.00, Stop-loss-106.40, Take profit-105.40( 104.60)

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EUR/USD
Date: Wed, 30 January 2008 13:10:05
Resistance levels: 1.4800/1.4860/1.4920
Support levels: 1.4750/1.4700/1.4650

EUR/USD has remained ranged above 1.4740 first Support earlier today Today focus will be on the US GDP ( 4 Q) numbers at 13:30 GMT and then FED Interest Rate Decision at 19:15 GMT . The GDP consensus is at 1.2% The break beyond 1.4780 signals further upmove towards 1.4860 over the next trading sessions and 1.4920 in mid term, especially if FED cuts the rate with 0.50 or 0.75 basis points . First immediate Resistance comes around 1.4800 On downside, ease back towards first Support comes around 1.4750 is not ruled out on US GDP at 0.7% or lower or just 0.25 basis points interest rates cut. Below turns price back to 1.4700 and even 1.4660-50 key Support area in longer term Look to buy on pullback for test higher towards 1.4860 and 1.4920 in longer term

Buy EUR/USD at 1.4820,Stop-loss-1.4780,Take profit-1.4880( 1.4920)

GBP/USD
Date: Wed, 30 January 2008 13:10:04
Resistance levels: 1.9900/2.0020/2.0150
Support levels: 1.9850/1.9800/1.9730

GBP/USD has risen beyond 1.9900 Resistance over the last trading sessions as it was suggested The break above 1.9790 previous important levels recovers price beyond 1.9900 later today and opens territory for test of the target at 2.0020 The longer term target is around 2.0150 On downside, below 1.9730 Support eases price back to 1.9600 bottom in mid term First immediate Support comes near 1.9850 ahead of 1.9800 stronger one

Strategy-neutral.

USD/JPY
Date: Wed, 30 January 2008 13:10:03
Resistance levels: 107.20/107.90/108.50
Support levels: 106.00/105.00/104.20

USD/JPY still trading below 117.20 first Resistance earlier today No change in our view. The bias remains bearish for further downmove below 106.00 and even towards 104.20 in longer term as long as price remains below 107.90 key level First Support comes at 106.50 ahead 106.00 stronger one On the upside, a break above 107.90 again signals for reversal in the bias and test of 108.50 and 110.10 in longer term First Resistance comes at 107.20 previous highs Above that levels squeezes price again towards 107.90 key level later today

Strategy-neutral.

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EUR/USD
Date: Mon, 28 January 2008 13:10:05
Resistance levels: 1.4780/1.4860/1.4920
Support levels: 1.4700/1.4650/1.4550

EUR/USD has found Support in the 1.4660-50 Support area over the last trading sessions as it was suggested Today focus will be on US Homes Sales numbers at 15:00 GMT . The consensus is at 645 K Beyond 1.4780 is needed to signal further upmove towards 1.4860 later today and 1.4920 in mid term. First immediate Resistance comes around 1.4750 If the number comes out at 570 K or more negative retest of 1.4780 highs may be seen later today On downside, first Support comes around 1.4660 Below turns price back to 1.4550 over the next trading days. In short term if the number comes out at 700 K or higher, ease back towards 1.4660-50 area is possible over the next trading sessions Look to buy on downsticks for retest of 1.4780 highs and higher towards 1.4860

Strategy-neutral.

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GBP/USD
Date: Mon, 28 January 2008 13:10:04
Resistance levels: 1.9850/1.9900/2.0020
Support levels: 1.9730/1.9700/1.9650

GBP/USD has risen back towards 1.9880 highs over the last trading sessions The break above 1.9790 previous important levels recovers price towardes 1.9850 and even 1.9900 later today Longer term target is at 2.0020 On downside, below 1.9730 Support eases price back to 1.9600 bottom in mid term First immediate Support remains near 1.9760

Strategy-neutral.

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USD/JPY
Date: Mon, 28 January 2008 13:10:03
Resistance levels: 107.00/107.90/108.50
Support levels: 106.00/105.00/104.20

USD/JPY has risen to 107.90 key Resistance and our target on Friday ast it was suggested in our previous reports , easing back to 106.00 key Support in Asia No change in our view. The bias remains bearish for further downmove below 106.00 and even towards 104.20 in longer term as long as price remains below 107.90 key level First Support comes at 106.00 ahead 105.00 bottom On the upside, a break above 107.90 again signals for reversal in the bias and test of 108.50 and 110.10 in longer term First Resistance comes at 107.00

Strategy-neutral.

CLICK HERE

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GBP/USD
Date: Thu, 24 January 2008 13:10:04
Resistance levels: 1.9700/1.9790/1.9830
Support levels: 1.9600/1.9460/1.9380

GBP/USD has broken above 1.9600 important up levels over the last trading sessions Above 1.9600-40 region may boost price directly towards 1.9790 key Resistance levels over the next couple of days on disappointing housing data from USA . First Resistance comes at 1.9700 On downside, if the numbers surprise the market , fall back towards 1.9600 later today may be seen and even 1.9460 over today and tomorrow

Strategy-neutral.

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USD/JPY
Date: Thu, 24 January 2008 13:10:03
Resistance levels: 1.0950/1.1000/1.1060
Support levels: 1.0890/1.0830/1.0780

USD/CHF has fallen further below 1.0890 first target over the last trading sessions as it was suggested in our previous reports On downside, the break below 1.0950 unlocks territory for further downmove below 1.0890 and even 1.0830 bottom in mid term. On the upside, a break above 1.1000 Resistance again is needed for test towards 1.1100 First Resistance comes at 1.0950 previous Support

Strategy-neutral.

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USD/JPY
Date: Thu, 24 January 2008 13:10:03
Resistance levels: 106.80/107.30/107.90
Support levels: 106.00/105.00/104.20

USD/JPY has tested 107.00 up range limit.and first Resistance in Asia No change in our view. The bias remains bearish for further downmove below 106.00 and even towards 104.20 in mid term as long as price remains below 107.90 key level On the upside, a break above 107.90 again is needed for reversal in the bias in longer term First Resistance comes at 106.80 In short term, stronger than expected US Housing data may lead price higher to 107.30 at least later today

Strategy-neutral.

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EUR/JPY
Date: Thu, 24 January 2008 13:10:01
Resistance levels: 157.00/158.00/159.50
Support levels: 156.00/154.80/153.60

The Cross has hold above 154.60 first important Support earlier today, bouncing back towards 157.00-10 first up target area O the upside first short term target comes around 157.00. Beyond opens territory for further upmove towards 158.00 over the next couple of days. On dosnide, below 156.00 first immediate Support may turn price back to 154.80 daily lows and even 153.60 in mid term.

Strategy-neutral

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EUR/USD
Date: Wed, 23 January 2008 13:10:05
Resistance levels: 1.4600/1.4680/1.4750
Support levels: 1.4500/1.4470/1.4360

EUR/USD has eased towards 1.4500 earlier today Further downmove to 1.4470 may be seen later today. Below eases price back to 1.4370-60 region over today and tomorrow. On the uspide, a break above 1.4600 first Resistance is needed for resuming the upmove towards 1.4700 .

Strategy-neutral.

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GBP/USD
Date: Wed, 23 January 2008 13:10:04
Resistance levels: 1.9550/1.9600/1.9700
Support levels: 1.9440/1.9380/1.9330

GBP/USD has fallen below 1.9550 towards 1.9440 next Support earlier today after Bank of England Minutes The break below may reverse the bias and turn price back towards 1.9440 and 1.9330 yesterday bottom in mid term..On the upside, a break above 1.9700 is needed for reversal in the sentiment First important Resistance comes at 1.9600

Strategy-neutral.

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USD/JPY
Date: Wed, 23 January 2008 13:10:03
Resistance levels: 106.00/106.60/107.00
Support levels: 105.00/104.20/103.70

USD/JPY has fallen to 105.00 our target earlier today as it was suggsted in our previous report No change in our view. The bias remains bearish for further downmove below 106.00 and even towards 104.20 in mid term On the upside, a break above 106.60 again is needed for reversal in the bias towards 107.30 First immediate Resistance comes at 106.00

Strategy-neutral.

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EUR/USD
Date: Tue, 22 January 2008 13:10:05
Resistance levels: 1.4600/1.4700/1.4750
Support levels: 1.4500/1.4470/1.4360

EUR/USD has reversed heavily towards 1.4600 earlier today after the fall towards 1.4360 our target in Asia No important fundamental news today The uptrend target comes at 1.4700 for today and tomorrow and 1.4750 in mid term On downside, first important Support comes around 1.4500 ahead of 1.4470 stronger one Look to buy on pullback for test towards 1.4700.

Strategy-neutral.

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GBP/USD
Date: Tue, 22 January 2008 13:10:04
Resistance levels: 1.9600/1.9700/1.9780
Support levels: 1.9440/1.9380/1.9330

GBP/USD has rebounded sharply towards 1.9590-600 key Resistance area and our suggestion earlier today Next up targets come around 1.9690-1.9700 area and then 1.9780 On downside, first Support comes around 1.9450 . Below may reverse the bias and turn price back towards 1.9330 daily bottom..

Strategy-neutral.

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USD/JPY
Date: Tue, 22 January 2008 13:10:03
Resistance levels: 107.00/107.50/108.00
Support levels: 106.00/105.00/104.20

USD/JPY has squeezed above 106.50 first Resistance over the last trading sessions No change in our view. The bias remains bearish for further downmove below 106.00 and even towards 104.20 in longer term Next target comes around 105.00 On the upside, there are chances for reversal towards 107.50 key Resistance First immediate Resistance comes at 107.00

Strategy-neutral.

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EUR/USD
Date: Mon, 21 January 2008 13:10:05
Resistance levels: 1.4560/1.4600/1.4700
Support levels: 1.4500/1.4460/1.4420

EUR/USD has fallen below 1.4500 our target over the last trading session as it was suggested No important fundamental news today as markets in USA are closed for holiday The bias has turned into negative for test below 1.4500 key level over the next trading days Next target comes at 1.4420 . On the upside, a break above 1.4600 again is needed for resuming the uptrend towards 1.4750 and higher.First minor Resistance comes at 1.4560

Strategy-neutral.

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GBP/USD
Date: Mon, 21 January 2008 13:10:04
Resistance levels: 1.9530/1.9600/1.9750
Support levels: 1.9500/1.9380/1.9200

GBP/USD has eased further below 1.9500 our next suggestion and strong Support over the last trading sessions We have booked 60 pip profit over the first part and 105 pip over the rest of our Short position. The bias remains bearish and break below 1.9500 first Support may ease price further towards 1.9380 over the next trading sessions and 1.9200 in longer term On the other side , beyond 1.9600 is needed for reversal towards 1/9750 key Resistance First immediate one comes around 1.9530

Holding GBP/USD Short at 1.9635,Stop-loss-1.9630( down from 1.9675) , Take profit-1.9575( 1.9530)

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USD/JPY
Date: Mon, 21 January 2008 13:10:03
Resistance levels: 106.50/107.00/107.50
Support levels: 106.00/105.00/104.20

USD/JPY has tested 106.00 our first target over the last trading sessions as it was suggested in our previous reports No change in our view. The bias remains bearish for further downmove below 106.00 and even 104.20 in longer term Next target comes around 105.00 On the upside, a break above 107.00 level is needed for reversal towards 108.00 and 108.50 First immediate Resistance comes at 106.50

Strategy-neutral.

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EUR/USD
Date: Fri, 18 January 2008 13:10:05
Resistance levels: 1.4700/1.4750/1.4850
Support levels: 1.4600/1.4650/1.4600

EUR/USD has found Support at 1.4600 , rebounding back towards 1.4700 first Resistance earlier today No important fundamental news today The bias has turned into negative for test of 1.4500 key level over the next trading days First important Support comes near 1.4600 yesterday bottom . On the upside, a break above 1.4750 again is needed for resuming the uptrend towards 1.4850 and higher.First Resistance comes at 1.4700

Strategy-neutral.

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GBP/USD
Date: Fri, 18 January 2008 13:10:04
Resistance levels: 1.9680/1.9750/1.9830
Support levels: 1.9560/1.9530/1.9500

GBP/USD has eased sharply below 1.9575 our first target earlier today on disappointing ( -0.4%) UK Retail Sales numbers We have booked 60 pip profit over the first part of our Short position. The bias is bearish currently for test towards 1.9500 target over the next trading sessions and even 1.9380 in longer term On the other side , beyond 1.9630 may squeeze price towards 1.9680 later today

Holding GBP/USD Short at 1.9635,Stop-loss-1.9630( down from 1.9675) , Take profit-1.9575( 1.9530)

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USD/JPY
Date: Fri, 18 January 2008 13:10:03
Resistance levels: 107.50/108.00/108.50/109.20
Support levels: 107.00/106.50/106.00

USD/JPY has tested 107.50 first Resistance earlier today No change in our view. The bias remains bearish for further downmove below 106.00 and even 104.20 in longer term First Support comes around 107.00 On the upside, a break above 107.30 first Resistance is needed for reversla towards 108.00 and 108.50 in mid term.

Strategy-neutral.

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EUR/USD
Date: Thu, 17 January 2008 13:10:05
Resistance levels: 1.4700/1.4750/1.4850
Support levels: 1.4600/1.4650/1.4600

EUR/USD has recovered to 1.4700 first Resistance earlier today Today focus will be on US Housing Starts numbers and Bernanke Speech at 13:30 GMT The consensus is at 1.150 mln The bias has turned into negative for test of 1.4500 key level over the next trading days If the number comes out at 1.200 mln or stronger ease back towards 1.4600 daily bottom is not ruled out . On the upside, a break above 1.4750 again is needed for resuming the uptrend towards 1.4850 and higher.In short term, if the number comes out at 1.050 mln or more negative test of 1.4750-60 area may be seen

Strategy-neutral.

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GBP/USD
Date: Thu, 17 January 2008 13:10:04
Resistance levels: 1.9720/1.9750/1.9830
Support levels: 1.9600/1.9530/1.9500

GBP/USD still trading in wide range below 1.9750 important level over the last trading sessions On the upside, a break above 1.9750 is needed for further recovery towards 1.9830 over today and tomorrow . On the other side, the bias remains slightly negative for further downmove towards 1.9500 and 1.9380 in longer term First immediate Support comes at 1.9600

Strategy-neutral.

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USD/JPY
Date: Thu, 17 January 2008 13:10:03
Resistance levels: 107.40/108.00/108.50/109.20
Support levels: 107.00/106.50/106.00

USD/JPY has fallen back below 107.00 first Support earlier today The bias remains bearish for further downmove below 106.00 and even 104.20 in longer term First Support comes around 107.00 On the upside, above 108.00 Resistance may recover price higher towards 109.20 and 109.70 highs over the next trading days . In near term stronger than expected data from USA may boost price to 107.40 first Resistance after the Release.

Strategy-neutral.

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EUR/USD
Date: Wed, 16 January 2008 13:10:05
Resistance levels: 1.4850/1.4900/1.4960
Support levels: 1.4780/1.4750/1.4650

EUR/USD has eased below 1.4800 over the last trading hours Today focus will be on US Core Consumer Price Index at 13:30 GMT The consensus is at 0.2% No change in our view The uptrend remains intact for test beyond 1.4900 towards 1.4960-65 previous high area in mid and longer term . In short term, weak US data may boost price towards 1.4850 if the number comes out at 0.1% or more negative On the other side, further ease below 1.4760-50 area and even 1.4700 over the next trading sessions is not ruled out on US Core CPI at 0.3% or higher .

Strategy-neutral.

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GBP/USD
Date: Wed, 16 January 2008 13:10:04
Resistance levels: 1.9660/1.9750/1.9830
Support levels: 1.9600/1.9560/1.9500

GBP/USD has traded below 1.9600 over the last trading sessions We have booked 60 pip profit over the first part and 140 pip profit for the rest of our Long position On the upside, beyond 1.9660 leaves chances of further recovery towards 1.9750 later today and even 1.9830 . On the other side, further downmove towards 1.9500 later today on stronger than expected US CPI and 1.9380 in longer term may be seen.

Holding GBP/USD Long at 1.9600,Stop-loss-1.9620( up from 1.9560) ,Take profit-1.9660( 1.9740)

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USD/JPY
Date: Wed, 16 January 2008 13:10:03
Resistance levels: 106.70/107.20/108.00
Support levels: 106.00/105.50/104.20

USD/JPY has fallen further below 106.00 our next target earlier today as it was suggested No change in our view The bias remains bearish for further downmove below 106.00 and even 104.30 in longer termn First Support comes around 106.00 On the upside, a break above 107.20 Resistance again is needed for recovery towards 108.00 and 109.70 highs in longer term. In short term, above 106.50 squeezes price to 107.20 later today on better than expected US CPI Index.

Strategy-neutral.

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