FOREX MARKET OUTLOOK FROM ACETRADER - USD/YEN Nov 6, 03

Thursday, November 06, 2003
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 109.90
As long as this week`s support at 109.38 holds, consolidation with upside bias is seen for at
least a strong retracement of recent fall from 111.50, however, above 111.00 is needed to
signal another leg of corrective upmove from 107.86 is under way...


INTRA-DAY USD/YEN OUTLOOK

(Update at 23:09GMT 2003/11/05)

Although dollar has retreated after overnight rebound to 110.07, as long as 109.60/65 holds,
consolidation with mild upside bias is seen for moderate retracement of recent decline from 111.50 to bring subsequent recovery to 110.20 but resistance at 110.43 would hold..

Trade from long side, stop 109.55, break aborts and brings marginal weakness to 109.25
before rebound...


Rate: 109.85
Strategy / Entry Level: Hold long
Position: Long at 109.85
Objective: 110.15/20
Stop-Loss: 109.55
Range Forecast: 109.85 / 110.15
Resistance: 110.07/110.43/110.75
Support: 109.38/108.88/108.62




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