Updating time : 10/02/2008 23:45 GMT

USD/JPY - 107.45...Although dlr fell fm 107.75 to 105.91 early last wk,price then rallied to 107.83 in line with the greenback's rise across the board n also cross selling in yen, however, price then retreated after failing to penetrate January 25 high at 107.90.

Although dlr's retreat fm 107.83 indicates price remains inside the established broad range of 104.95-107.90, anticipated firmness in the greenback elsewhere shud provide support here n another rise is envisaged later, abv key res at 107.90 wud confirm 'upside break' of aforesaid range has finally taken place n yield further headway to 108.66 (38.2% r of intermediate decline fm 114.66-104.95) n then twds 109.21 (present lvl of 55-day ema) but 110.13 res (abv 50% r of 114.66-104.95 at 109.81) shud limit gain.

Below 105.71/76 wud risk re-test of last month's low at 104.95 but a breach of this sup is needed to indicate MT downtrend fm 124.14 top has resumed instead, extend weakness to 104.20 (61.8% proj. of 124.14-107.22 fm 114.66) n then later rwd 103.37 (equality proj. of 114.66-107.90 fm 110.13)...

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