FOREX MARKET OUTLOOK FROM ACETRADER - USD/YEN - Nov 21, 2003

Friday, November 21, 2003
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 109.22
As dollar has risen again after anticipated pullback, retaining our bullishness for this week`s
rally to extend gain to 109.75, break there would confirm major correction of MT downtrend
has commenced but 110.40 would hold from here.

Only below 108.20/30 would defer bullishness but temporary low at 107.52 would remain
intact.


INTRA-DAY USD/YEN OUTLOOK

(Update at 23:11GMT 2003/11/20)

As dollar has rebounded after finding support at 108.62 yestesrday, suggesting pullback from
109.38 has possibly ended and above 109.18 would confirm and signal another leg of
upmove from 107.52 is under way, bring re-test of 109.38.

Hold long, stop as indicated, break risks marginal weakness but 108.45/50 should remain
intact.


Rate: 108.99
Strategy / Entry Level: Hold long
Position: Long at 108.85
Objective: 109.15/109.35
Stop-Loss: 108.75
Range Forecast: 108.90/109.15
Resistance: 109.38/109.75/110.40
Support: 108.62/108.30/107.86


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