Thread: Intra-day usd/jpy outlook

INTRA-DAY USD/JPY OUTLOOK

Although dlr briefly penetrated y'day's NY low
of 77.29 to 77.27 on renewed cross-buying of yen,
intra-day minor rebound suggests consolidation with
mild upside bias wud be seen n abv 77.56 wud signal
pullback fm 78.28 (Wed) possibly over, 77.65/67.
Hold long for this move n only below 77.27 may
extend decline fm 78.28 to 77.08/10 b4 recovery.

Range Forecast
77.30 / 77.55

Resistance/Support
R: 77.67 / 77.85 / 77.96
S: 77.27 / 77.08 / 76.87

Rate
77.41

Position
Long at 77.35

Strategy/Entry Level
Hold long

Objective
77.65

Stop-Loss
77.25

Last Update At
27 Jan 2012 02:10 GMT

January 27, 2012 at 11.15 GMT

Forex Analysis- USD/ JPY

usdjpy- 76.977

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