Resistance 3: 105.00

Resistance 2: 104.80

Resistance 1: 104.20/30

Latest New York: 104.00

Support 1: 103.50/60

Support 2: 103.20/30

Support 3: 103.00

Other Things to Watch/Open Trades/News

Still Flat but aggressive traders can sell on a test

of the 105.00 area;

Looking at the sell side early this week.


Extra effort by the bulls cleans out stops and makes the 105.00 area in view now.

Don’t expect a rally over the 105.00 area to last, need a failure on good volume but

rate continues to trade firm; no failure on Friday sets the tone for a test of 105.00

today at some point.

Traders note that the market is still trading technically and expect stops to be run in

both directions near-term; expect some volatility. Day traders may get a lot of

opportunity as the rate will likely cover a lot of the same ground twice on the hourly time


With rate back under the 104.00 handle expect a bounce from the 103.20/30 area if

stops accelerate the move; look to sell that bounce the next 48 hours.

Data due Wednesday All times EASTERN (-5 GMT) Forecast Last

1:00am JPY Housing Starts y/y -6.5% -5.0%

Tentative JPY BOJ Governor Shirakawa Speaks

2:00am JPY BOJ Monthly Report

Analysis by: written by Jason Alan Jankovsky


Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.