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Market Review - 12/08/2010 22:02 GMT

Dollar strengthens against yen as Japanese officials show concerns over yen's gain

Dollar rose versus the Japanese yen on Thursday, as Japanese Prime Minister Naoto Kan and other officials expressed concerns over yen's excessive gain.

Although the greenback fell initially to 84.94 against the Japanese yen in Asia, dollar rebounded and ratcheted higher on cross selling in yen especially versus euro together with rumour that the BOJ checked exchange rates with banks in the foreign exchange market, as the news reported that Japanese Prime Minister Naoto Kan said to his Chief Cabinet Secretary 'the yen's sudden gains are rough'. Later, although dollar retreated ...

INTRA-DAY GBP/USD: 1.5680

Last Update At 12 Aug 2010 08:30 GMT

Cable's retreat after faltering below 1.5714
suggests further choppy consolidation with downside bias wud be seen, however, breach of 1.5654 needed to confirm recovery fm 1.5615 has ended n yield resumption of decline for re-test of said sup.

Range Forecast
1.5670 / 1.5710


Resistance/Support
R: 1.5714/1.5736/1.5770
S: 1.5639/1.5615/1.5597

http://www.acetraderfx.com

INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD
EUR/USD: 1.2911

Late Update At 12 Aug 2010 05:52 GMT

As euro has risen just ahead of European open-
ing after extending y'day's selloff to 1.2830 in
Australia, a firm breach of 1.2914 wud bring stronger retracement of this week's decline to 1.2940/44 b4 prospect of a retreat later.


Exit prev. short as only a firm break of 1.2870
signals intra-day high is made n yields 1.2845/50.

Range Forecast
1.2885 / 1.2825


Resistance/Support
R: 1.2914/1.2948/1.3031
S: 1.2870/1.2830/1.2794

http://www.acetraderfx.com

INTRADAY TRADING SIGNAL BY ACETRADER.COM :
AUD/USD: 0.8958

Last Update At 12 Aug 2010 03:54 GMT

Although aud's present stronger-than-expected
rebound suggests an intra-day low has been made at
0.8918 earlier n conoslidation with mild upside
bias remains for marginal gain, only abv 0.8980/85
wud bring stronger retrace. twd 0.9014 later.


Stand aside for now n hold short for day trade.
Below 0.8930/40 wud yield one more fall twd 0.8906.

Range Forecast
0.8945 / 0.8975

Resistance/Support
R: 0.8985/0.9015/0.9058
S: 0.8918/0.8906/0.8860

http://www.acetraderfx.com