Wednesday February 2, 2005 - 02:14:04 GMT
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USD/JPY Daily Outlook
USD/JPY - 103.68
Last Update At 01 Feb 2005 23:02:10
Although dlr has retreated after y'day's rise to 104.10, below 103.30 is needed to confirm early rebound fm 102.37 has ended there n bring at least a strg retrace. to 102.75/80, however, as outlook is consolidative, said sup shud remain intact.
INTRA-DAY EUR/CHF CROSS OUTLOOK
Last Update At : 01 Feb 2005 22:36:18
As long as minor sup 1.5520 holds, bullishness remains for upmove to resume n abv 1.5548 wud ex- tend gain twd chart res at 1.5557, however, loss of nr term momentum is likely to cap price at 1.5575/ 80 in Asia n yield pullback.
Trade fm long side with stop at break-even, only below 1.5509 (prev. res) wud confirm top is made...
Strategy / Entry Level: Hold long
Position: Long at 1.5517
Range Forecast: 1.5525 / 1.5548
Yesterday's Recommended Trades
GBP/JPY DAILY CROSS OUTLOOK - +195.60+
Update Time : 2005/01/02 06:20GMT
Despite stg's retreat fm 195.50, as long as 194.79 sup holds, upside bias is seen for recent upmove to resume n yield marginal gain twd 195.70 later.
Trade fm long side, stop below said sup, break wud risk correction to 194.20/30 b4 up...
Strategy: +Target met+
Position: Long at 194.85
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