INTRA-DAY USD/JPY OUTLOOK

Despite y'day's brief rise to 78.00 in NY session
due to dlr's broad-based rally, subsequent retreat
to 77.74 suggests initial consolidation is in store
in Tokyo moring b4 erratic upmove fm 77.13 (Thur)
extends to 78.10/15, reckon 78.29 res shud hold.
Reinstate long on dips for this move n only below
77.50 wud abort daily bullishness on dlr.

Range Forecast
77.80 / 78.00

Resistance/Support
R: 78.00 / 78.29 / 78.45
S: 77.74 / 77.50 / 77.29

Rate
77.93

Strategy/Entry Level
Buy at 77.80

Objective
78.10

Stop-Loss
77.65

Last Update At
12 Dec 2011 23:12 GMT