Free Forex Signal

USD/JPY - 106.69…The greenback moved in a volatile fashion last week as
cross-trading in yen largely influenced intra-day direction. Although early strg
retreat fm 107.90 confirms the corrective rebound fm 08′ low at 104.95 has ended
there, dlr traded in a broad ’sideways’ pattern since then n rebound fm 105.71
(Friday’s low was 105.76) suggests as long as this near term good sup holds,
initial choppy consolidation with upside bias is envisaged for price to head to
107.00/10, however, reckon 107.90/95 res wud remain intact n dlr’s MT decline fm
07′ top at 124.14 shud resume later this month, a daily close below 105.71 wud
add credence to this view, bring re-test of 104.95 n then twds 103.05, being 50%
proj. of the intermediate fall fm 114.66 to 104.95 measured fm 107.90.

Today, dlr’s broad-based rally on Friday despite weaker-than-expected
U.S. payrolls figure suggests consolidation with upside bias is in store as
reckon minor sup at 106.12/15 wud hold, bring further headway twd 107.00, how-
ever, minor res at 107.47 shud cap nr term rise n yield subsequent retreat, so
buying on dips is favoured n only below 105.71 may risk weakness twd 105.30/40..