FOREX MARKET OUTLOOK - USD/YEN Nov 17, 2003

Monday, November 17, 2003
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 108.72

Intra-day strong rebound suggests consolidation with upside bias is seen but above 109.18 is
needed to signal a temporary low has indeed been formed earlier at 107.86 and bring
retracement of early fall from 111.50 towards 109.64. Below 108.21 would risk re-test of said
support.


INTRA-DAY USD/YEN OUTLOOK

(Update at 00:58GMT 2003/11/17)

As dollar has maintained a firm undertone after penetrating 108.55 on active cross-selling in
yen, consolidation with upside bias is envisaged for further gain to 109.00 but only above
109.18 is needed to signal `upside break` has occured.

Turn cautious buyer on pullback, stop as indicated and only below 108.21 aborts this view...



Rate: 108.73
Strategy / Entry Level: Buy at 108.65
Position:

Objective: 109.00
Stop-Loss: 108.40
Range Forecast: 108.50 / 108.80
Resistance: 108.88/109.18/109.68
Support: 108.21/107.87/107.86




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