INTRA-DAY USD/JPY OUTLOOK

Despite extending Fri's gain in NY session margi
nally higher to 78.10 in Aust., dlr's retreat in
Tokyo suggests a minor top is possibly made a conso
lidation with downside bias is seen for a retrace.
of last week's rise to 77.72/75 b4 another rebound.
For st trade, sell on recovery for 77.75 or buy
there for a bounce to 78.00 but 78.15 shud hold.

Range Forecast
77.85 / 78.05

Resistance/Support
R: 78.15 / 78.29 / 78.45
S: 77.72 / 77.49 / 77.29

Rate
77.96

Strategy/Entry Level
1.Sell at 78.00
or
2.Buy at 77.75

Objective
1)77.75 or 2)78.00

Stop-Loss
15 points

Last Update At
05 Dec 2011 02:33 GMT