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Market Review - 25/08/2010 22:48 GMT

Japanese yen falls against dollar on speculation of Japanese intervention
Dollar rose from Tuesday's 15-year low of 83.58 against the Japanese yen on Wednesday due to speculation that Japanese authorities will act to counter the Japanese yen's strength.

The greenback ratcheted higher from 83.91 in Asia after Tuesday's selloff to a fresh 15-year low of 83.58 and rose to 84.51 in reaction to various statements by Japanese officials. Later, although dollar rose again after minor retreat and climbed to a high of 84.68, price pared its gains from there due to the release of much smaller-than-expected U.S. durable goods data. The greenback then fell to 84.04 after the release ...

Market Review - 24/08/2010 22:48 GMT

Japanese yen surges to 15-year high versus dollar on risk aversion and weak US home sales data

The Japanese yen rose to the highest level against the dollar in 15 years on Tuesday, as U.S. home sales data dropped to the lowest level since May 1995, bolstering concerns over U.S. economic recovery and the yen continued to strengthen on rising risk aversion.

The greenback edged lower from 85.19 versus the Japanese yen in Asia as Nikkei-225 dropped and closed the day down by 1.33%. Later, dollar extended its weakness and fell sharply after Japanese Finance Minister Noda's comments. The greenback's decline accelerated after triggering sizeable stops below 84.72 ...

INTRA-DAY USD/JPY:

Last Update At 24 Aug 2010 04:17 GMT

Range Forecast
84.95 / 85.20


Resistance/Support
R: 85.19 / 85.42 / 85.64
S: 84.89 / 84.72 / 84.50

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INTRA-DAY EUR/USD:

Last Update At 24 Aug 2010 04:18 GMT

Range Forecast
1.2625 / 1.2655


Resistance/Support
R: 1.2664/1.2684/1.2730
S: 1.2624/1.2605/1.2583

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INTRA-DAY USD/CHF:

Last Update At 24 Aug 2010 04:20 GMT

Range Forecast
1.0400 / 1.0430


Resistance/Support
R: 1.0443/1.0466/1.0488 ...

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Update Time: 23 Aug 2010 07:43GMT
INTRA-DAY EUR/JPY OUTLOOK - +108.25+

Euro's intra-day weakness to 108.44 suggests the
recovery fm Friday's 108.25 low has ended earlier
at 109.08 n resumption of recent decline to re-test
said sup is seen after consolidation, 107.70/80 wud
hold due to nr term loss of momentum.

Trade fm short side with stop as indicated, abv
wud risk another corrective rise twd 109.08...

Rate: +108.25+
Strategy: +Target met+
Position: Short at 108.65
Objective: 108.25
Stop-Loss:
Resistance: 109.08/109.34/109.63 ...