Wednesday June 22, 2005 - 02:10:15 GMT
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USD/JPY Daily Outlook
USD/JPY - 108.60
Update time - 01:30GMT
Next update - 08:30GMT
Yesterday's breach of 108.50 signals the decline from 109.72 to retrace recent upmove remains in progress and further weakness to 108.00 is likely before prospect of a recovery due to oversold condition.
Above 109.00/10 would signal further choppy trading is in store but aforesaid top should remain intact.
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