USD/JPY Daily Forecast 04.02

USD/JPY - 106.96 - 04 Feb 2008 01:27 GMT

Dollar has risen again in Asian morning due to
renewed cross-selling in yen, however, near term over
bought condition is likely to limit gain to 107.00/
10 and risk has increased for a pullback later.

Would not advise chasing present upmove and look to
buy on subsequent retreat as only below intra-day
low at 106.40 (Aust.) signals top has been made...

Range Forecast
106.65 / 107.00

Resistance/Support
R: 107.07/107.47/107.90
S: 106.40/106.03/105.71

AceTrader