Thursday February 3, 2005 - 02:38:15 GMT
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USD/JPY Daily Outlook
USD/JPY - 103.98
Update Time : 01:42GMT
Although dlr has maintained a firm undertone after yesterday's widely expected 25 b.p. Fed rate hike, abv 104.35 resistance is needed to confirm recent erratic upmove fm 101.67 has resumed for gain twd 104.75 but res at 105.19 shud remain intact.
Below 103.56 wud prolong consolidation but only break of 103.30 turns outlook bearish...
INTRA-DAY USD/CHF OUTLOOK
Last Update At : 03 Feb 2005 02:08:39
As dlr has risen again due to renewed cross sell ing in chf, suggesting recent 'erratic' upmove has resumed n abv previous high at 1.1975 wud encourage for gain to 1.1990/95 n possibly later twd 1.2020.
Turn long on minor pullback due to nr term o/bot condition, stop as indicated n only below 1.1912 sup wud abort this view n confirm top is made...
Strategy / Entry Level: Buy at 1.1950
Range Forecast: 1.1950 / 1.1975
Yesterday's Recommended Trades
INTRA-DAY GBP/USD OUTLOOK - +1.8880+
Update Time : 2005/02/02 11:07GMT
Cable's rebound after meeting renewed buying abv
Asian low at 1.8826 has retained our bullishness
for upmove fm y'day's low at 1.8774 to extend gain
to 1.8880, however, abv 1.8889/91 is needed to con-
firm recent erratic upmove has resumed.
Trade fm long side with stop as indicated, be-
low wud risk 1.8800 but 1.8774 shud remain intact..
Strategy: +Target met+
Position: Long at 1.8845
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