FOREX MARKET OUTLOOK FROM ACETRADER - USD/YEN - Nov 27, 2003

Thursday, November 27, 2003
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 108.99

Dollar`s broad-based selloff has pressured price here and downside bias is seen for a
retracement of the early rise from 107.52, however, 108.20/30 is expected to contain
weakness, yield another leg of upmove for re-test of 110.06 first.



INTRA-DAY USD/YEN OUTLOOK

(Update at 01:07GMT 2003/11/27)

Renewed selling at 109.16 has pushed dollar lower and intra-day downside bias is retained
for near term decline from 110.06 to bring marginal weakness but reckon strong support
area at 108.62/68 would hold on initial testing, yield rebound later.

Hold short, stop as indicated and exit on decline, then buy for day trade.


Rate: 1.3159
Strategy / Entry Level: Hold short
Position: Short at 1.3175
Objective: 1.3120
Stop-Loss: 1.3200
Range Forecast: 1.3147/1.3180
Resistance: 1.3220/1.3263/1.3333
Support: 1.3147/1.3093/1.3049


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