Thursday July 14, 2005 - 01:38:44 GMT
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USD/JPY Daily Outlook
USD/JPY - 112.00
Update time - 01:30GMT
Next update - 08:30GMT
Yesterday's rally to 112.28 after the less-than-expected trade deficit signals corrective fall from 112.60 has ended at 110.75 and consolidation with upside bias would be seen, however, above 112.60 is needed to confirm recent uptrend has resumed and yield subsequent gain to 113.00.
Below 111.50 would prolong choppy trading but downside would be limited and 110.75 sup is expected to remain intact.
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