USD/JPY Daily Forecast 28.01

USD/JPY - 106.33 - 28 Jan 2008 04:24 GMT

As active cross buying in yen has continued to
pressure dollar, suggesting the decline from Friday's
high at 107.90 may extend to 106.05/10 but near term
o/sold condition should prevent steep fall below support
at 105.94 and yield rebound later.

Would not chase this move and stand aside. Above 106.96
would indicate intra-day low is made, 107.20/30...


Range Forecast

+106.00 / 106.30+

Resistance/Support

R: 106.62/106.96/107.27
S: 105.94/105.50/104.95

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