Monday May 9, 2005 - 01:47:53 GMT
Share This Story
AceTrader - www.acetrader.com
USD/JPY Daily Outlook
Update Time : 01:01GMT
USD/JPY - 105.25
Despite last week's initial weakness to 104.20, failure to penetrate indicated pivotal support at 103.65 and subsequent strong rebound due to Friday's much better-than-expected non-farm payrolls data signal recent decline from 108.90 has made a temporary low there and consolidation with upside bias would be seen this week, however, 106.41/55 should cap upside.
On the downside, below 104.20 would bring re-test of aforesaid support, however, break is needed to confirm this year's corrective rise from 101.67
has indeed ended at 108.90, yield resumption of MT downtrend later.
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."