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Thread: USD/JPY Daily Outlook

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    Default USD/JPY Daily Outlook

    INTRA-DAY USD/JPY OUTLOOK: 119.08

    Updating time :09 Aug 2007 07:28 GMT


    As dlr has fallen after meeting renewed selliing
    at 119.35, suggesting the fall fm y'day's 119.84
    high is likely to extend twds 118.72, however, as
    outlook is consolidative, reckon 118.33 wud limit
    downside n bring choppy trading later.

    Turn short with stop as indicated n only abv
    119.77 aborts n risks gain twds 120.00...

    Range Forecast
    118.92 / 119.25

    Resistance/Support
    R: 119.35/119.61/119.84
    S: 118.72/118.33/1187.97

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    In Profit acidguy's Avatar
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    excellent time to go long. pair has retreated again from yesterday highs sm_cool .

    its getting a lot of resistance down 117.85 point and it has rebounced.
    so prepare for a big travel the way up.

    wall street yerri carry trade and japan exports has been affected
    so expect yen losing some value. sure you can go long for some big pips toothy9

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    Administrator Loki's Avatar
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    Default

    I don't think it's the right time to go long yet. no clear signal that the trend will reverse. it might test to break support again. than if it failed. we know what goin to happen

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    In Profit acidguy's Avatar
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    Default

    from my oracle :
    ---------------------------------------------------------------
    118.16. There is bearish potential for a fall to 117.62 while 118.69 - 118.96 resist. After this fall a recovery up to 118.96 or 119.23 is expected.
    ---------------------------------------------------------------
    right now has fall even to 117.15, i bought near there, right now after 5 minutes then its in 117.46, which probably will fuel the rally for going long.
    lets see what happens...
    ----------------------------------------------------------
    some hours later...

    it just went long to 118.50 area. i will just keep sticked for what will happen on weekend. would be happy if went back to around 117 area on sunday :P, so can go long again.!
    Last edited by acidguy; 08-11-2007 at 01:15 AM. Reason: added info.

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    Default

    USD/JPY found support right at our level of 94.38 and the market shot up from here. It came to a halt right at our strong resistance level of 96.70/95.

    96.70/95 will be key again today and if buyers can push through then 97.24 will be next. Good resistance here could cap the rally but if the momentum carries on then buyers will be looking for 97.85/95 which is likely to be enough on the upside for now.

    A break below 95.90 would weaken the outlook once more and target 95.55/75 where buyers could be waiting to jump back in. If buyers fail to support prices here then sellers will push lower looking for 95.00 on the way to 94.38 which should hold any dips today.

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