FOREX MARKET OUTLOOK FROM ACETRADER - USD/YEN - Dec 10, 03

Wednesday, December 10, 2003
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 107.22

Although recent downtrend is likely to extend marginal weakness, loss of downward
momentum suggests 106.50 would contain downside and yield rebound later today but above
107.65 is needed to signal a temporary low has been formed, bring a much-needed
correction to 108.00.


INTRA-DAY USD/YEN OUTLOOK

(Update at 02:26GMT 2003/12/10)

As dollar has edged higher after finding support at 107.07 in Asia, suggesting consolidation
with upside bias is seen for marginal gain to indicated objective but only above 107.65 would
signal temporary low formed yesterday at 106.74, bring correction to 107.95/00.

Hold long, stop below said support, break risks another test of 106.74 before prospect of a
strong rebound.


Rate: 107.32
Strategy / Entry Level: Hold long
Position: Long at 107.00
Objective: 107.40/45
Stop-Loss: 107.05
Range Forecast: 107.10/107.40
Resistance: 107.57/107.78/107.96
Support: 106.74/106.57/106.00


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