USD/JPY Daily Forecast 25.01

USD/JPY - 107.65 - 25 Jan 2008 08:52 GMT

As dollar has retreated from 107.90 on cross unwind-
ing in yen, suggesting an intra-day top has possi-
bly been formed and consolidation with downside bias
is seen for correction of near term rise to 107.40/45
and then 107.20.

Hold short with stop above said resistance, break would
defer and risk further gain to 108.10/15...

Range Forecast
107.45 / 107.75

Resistance/Support
R: 107.95/108.35/108.60
S: 107.00/106.75/106.45

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