INTRA-DAY USD/JPY OUTLOOK

Despite y'day's intra-day weakness to 77.89 near
NY open, subsequent sideways move abv there signals
consolidation with mild upside bias wud be seen in
Tokyo n abv 78.17 (y'day's high) wud encourage for
gain to 78.30, however, reckon 78.40/45 wud hold.
Trade fm long side n only below 77.75 sup wud
abort daily bullishness on dlr.

Range Forecast
77.90 / 78.15

Resistance/Support
R: 78.17 / 78.45 / 78.68
S: 77.89 / 77.75 / 77.48

Rate
78.05

Position
Long at 78.00

Last Update At
03 Nov 2011 23:18 GMT