USD/JPY Daily Forecast 06.02

USD/JPY - 106.40 - 06 Feb 2008 06:06 GMT

Although intra-day breach of 106.38 signals the
decline from 107.75 has resumed and further weakness
to 106.25/30 cannot be ruled out, near term o/sold
condition should limit weakness to 106.00 and risk has
increased for a rebound later.

Would be prudent to exit intra-day short and stand
aside. Above 106.86 signals low is made, 107.10/15...

Range Forecast
106.30 / 106.55

Resistance/Support
R: 106.86/107.13/107.75
S: 106.15/105.71/104.95

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