FOREX MARKET OUTLOOK FROM ACETRADER - USD/YEN - Dec 9, 03

Tuesday, December 9, 2003
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 107.38
Yesterday`s resumption of medium term downtrend suggests further subsequent weakness
toward 106.50/55 would be seen, however, loss of downward momentum would keep dollar
above 106.00, yield a much needed corrective rebound. Above said resistance would signal
such move has commenced, bring further gain to 108.50.


INTRA-DAY USD/YEN OUTLOOK

(Update at 02:18GMT 2003/12/9)

As long as minor resistance 107.51 holds, outlook remains bearish for recent downtrend to
resume after initial consolidation, bring re-test of yesterday`s low at 107.11, below would
extend marginal weakness but loss of momentum would keep dollar above 106.70/75.

Hold short, stop at 107.55, break signals moderate retracement of recent deccline has
begun, 107.78.


Rate: 107.40
Strategy / Entry Level: Hold short
Position: Short at 107.55
Objective: 107.15
Stop-Loss: 107.55
Range Forecast: 107.20/107.50
Resistance: 107.78/107.96/108.50
Support: 107.11/106.57/106.00

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