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[IMAGE] Forums Discuss these points in the Forums: Forexnews Forum T= echnicals Live Charts Analysis available from: Cornelius Luca J.P. Chorek= Technical Research Ltd. Charts & News featuring Standard & Poor's = Interest Rates US: Japan: Eurozone: UK: Switzerland: 1.75% 0.15% 3.= 25% 4.0% 1.25-2.25% [IMAGE] =09 [IMAGE] Japanese Forex Trading Pre= view February 3, 7:00 PM: EUR/$..0.8620 $/JPY..132.90 GBP/$..1.4147 $/CHF.= .1.7131 Japanese Forex Trading Preview by Darko Pavlovic No key data. T= he dollar is trading around 133 yen after pulling back from three-year high= s on Friday comments from Japanese FinMin Shiokawa that the yen fall was t= oo rapid . Markets were also surprised after MoF chief diplomat Kuroda rev= ersed himself that he saw no risk of further yen fall and warned that Japan= ese currency decline last week had been excessive. Many analysts believe th= at the government could overturn its laissez faire approach toward weak yen= as foreign investors continue to flee from Japan and under more pressure f= rom Asian neighbors, which could depreciate their own currencies. Also, dea= lers are more cautious ahead of G-7 meeting this week in Toronto. On Friday= Nikkei fell to a 4-month low of 9791, below the DJIA's level for the first= time in over 40 years..The yen benefited last week by S&P's assurance that= it did not plan to downgrade Japanese debt any further for the time being.= Finance Minister Shiokawa expressed on Sunday hope that the economic growt= h rate would pull out of negative territory to zero by this autumn, now tha= t the economy including its exports are improving. The government will try = to reach 1.5% growth in fiscal 2003 by forging ahead with structurally refo= rming the economy. Prime Minister Koizumi will ask top bureaucrats on Monda= y to cut uncertain ties with politicians in relation to recent problems inv= olving the Foreign Ministry. New Foreign Minister Kawaguchi and U.S. Secret= ary of State Powell on Sunday agreed in a phone conversation to advance rel= ations between Japan and the United States, ahead of U.S. President George = W. Bush's visit to Japan this month. Support is viewed at 132.60 and 132.40= . Resistance is seen at 135.05, 135.25 and 136.0. EUR/USD is trading roun= d 86.20 boosted by Friday's release of the Eurozone PMI, which exceeded for= ecasts by rising for the third straight month to 46.2 in January from the p= revious 44.1. Even though the PMI remained in contraction territory for the= tenth month, markets were optimistic about the Eurozone's prospects for a = turnaround. However, Euroarea inflation jumped to 2.5% y/y in January fro= m the previous 2.1%, thereby dampening expectations for an ECB rate cut nex= t week. The aforementioned data, along with the euro's plunge to a 6-month = low of 85.64 in European trading, led 41 out of 45 economists in a recent R= euters poll to predict that the European Central Bank will leave rates unch= anged at 3.25%. Upside capped at 86.60, 87.0 and 87.50. Support holds at 85= .55-- the 71.8% Fibonacci retracement of the move from 82.25 to 95.95, back= ed by 85.0. Looking forward to this week, key US economic releases include= factory orders, ISM (formerly NAPM) Non-manufacturing PMI, Q4 productivity= , jobless claims, consumer credit and wholesale trade. From the Eurozone, m= ajor indicators consist of Euroarea business and consumer confidence survey= , PPI, Services PMI, German Services PMI, French Services PMI, Italian Serv= ices PMI, unemployment, French INSEE industry survey, Spanish industrial pr= oduction, German unemployment, ECB rate decision, German manufacturing orde= rs, German industrial production and Dutch CPI. Highlights from Japan are t= he trade balance, indices of business conditions, ESRI Tokyo consumer senti= ment, money supply, wholesale prices and machinery orders. =09[IMAGE] Au= dio Mkt. Analysis Yen Bounces Up, Euro Drifts Articles & Ideas Dolla= r Does Davos In New York USD/JPY: ONeill, Koizumi and January Effect = Articles & Ideas Forex Glossary Economic Indicators Forex Guides Li= nk Library [IMAGE] =09 =09=09[IMAGE][IMAGE] [IMAGE][IMAGE]=09 =09=09 This e-mail is never sent unsolicited. If you wish to unsubscribe f= rom this or any other Forexnews.com newsletters, please click here . Any = opinions expressed by representatives of Forexnews.com or its affiliates as= to the commentary, market information, and future direction of prices of s= pecific currencies reflect the views of the individual analyst, and do not = necessarily represent the views of Forexnews.com or its affiliates in any w= ay. In no event shall Forexnews.com or its affiliates have any liability fo= r any losses incurred in connection with any decision made, action or inact= ion taken by any party in reliance upon the information provided in this ma= terial; or in any delays, inaccuracies, errors in, or omissions of informat= ion. =09
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