TODAY`S FOREX MARKET OUTLOOK FROM ACETRADER - USD/YEN

Wednesday, March 31, 2004 2:37 GMT
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 105.80

As 106.23 has capped recovery from 105.20, subsequent retreat suggests recent downtrend
would resume after initial consolidation, however, steep fall below psychological support at
105.00 is not envisaged today and yield another corrective bounce later.


INTRA-DAY USD/YEN OUTLOOK

Although dollar has rebounded from 105.50, yesterday`s fall from 106.23 suggests recent
downtrend would resume after initial consolidation and below said support would confirm,
bring re-test of 105.16/20 sup 1st but reckon 105.00 would hold from here.

Trade fm short side, stop 106.00, only above said resistance would abort and risk corrective
rise toward 106.59.

Rate: 105.86
Strategy / Entry Level: Sell at 105.75
Position:

Objective: 106.00
Stop-Loss: 105.60
Range Forecast: 105.60 / 105.90
Resistance: 106.23/106.59/106.96
Support: 105.40/105.16/105.00



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