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Yen Focus (morning) Fundamental Analysis
Blair Baker, Foreign Exchange Analyst and Strategist
at
GCI Financial Ltd
The yen gained a moderate amount of ground vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥103.90 level after encountering resistance around the ¥104.50 level in early Australasian dealing. European dealers lifted the pair higher from the ¥104.10 level but North American traders took the pair back below the ¥104.00 figure to intraday lows. The pair largely ignored data that evidenced a sharp decline in Japan’s trade surplus and a decline in service sector activity. The trade surplus receded to ¥602 billion last month, off 39.2% y/y, far below expectations. Minutes from Bank of Japan Policy Board’s November monetary policy meeting were released overnight with policymakers believing exports would continue recovering as global economies improved. It was also reported that Japan’s tertiary index was off 0.1% m/m in October. The Nikkei 225 stock index gained 0.75% to close at ¥11,209.44. Dollar offers are seen around the ¥104.70 level. The euro came off vis-à-vis the yen as the single currency tested bids around the ¥139.05 level and was capped around the ¥139.65 level. In Chinese news, it was reported that combined profits among industrial firms rose 38.8% y/y to ¥1.02 trillion in the first eleven months of 2004.
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| Yen Focus (morning)
Technical Analysis
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| Support
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Resistance
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L1. 102.30 107.00
L2. 101.50 108.10
L3. 100.25 109.40
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Commentary provided by
Blair Baker, Foreign Exchange Analyst and
Strategist at GCI Financial Ltd
GCI Financial Ltd is a leading
provider of professionally- managed foreign exchange investment
services and offers a comprehensive online foreign exchange
trading/ dealing platform for individual and institutional
clients.
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Yen Focus |
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| View Full Version
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 Click Charts to Enlarge
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Day's Change
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52-Week High
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52-Week Low
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Instrument |
Current |
Points |
% |
Date |
Value |
Date |
Value |
| Exchange Rates |
22-Dec-04 |
AUD/JPY  |
 |
80.0453 |
0.5208 |
0.65% |
5-Mar-04 |
85.2461 |
23-Jun-04 |
74.6897 |
| CAD/JPY |
|
84.9532 |
0.2559 |
0.30% |
10-Nov-04 |
89.7404 |
12-Apr-04 |
78.8666 |
| CHF/JPY |
 |
90.4956 |
-0.0900 |
-0.10% |
14-Dec-04 |
91.4471 |
5-Apr-04 |
80.5015 |
| EUR/JPY |
|
139.5500 |
0.1800 |
0.13% |
14-Dec-04 |
140.4000 |
5-Apr-04 |
126.1100 |
| EUR/JPY - 3m Fwd |
 |
-72.2000 |
0.0000 |
0.00% |
30-Mar-04 |
-64.2000 |
2-Jun-04 |
-75.8000 |
| GBP/JPY |
|
201.3300 |
-1.0300 |
-0.51% |
5-Mar-04 |
206.7500 |
23-Dec-03 |
187.7500 |
| USD/JPY |
|
104.4200 |
0.3400 |
0.33% |
13-May-04 |
114.5600 |
3-Dec-04 |
102.0900 |
| USD/JPY - 3m Fwd |
|
-49.0000 |
0.0000 |
0.00% |
30-Mar-04 |
-32.0000 |
30-Jan-04 |
-160.0000 |
| |
| Indices |
22-Dec-04 |
| DJIA |
|
10,759.43 |
97.83 |
0.91% |
21-Dec-04 |
10,759.43 |
25-Oct-04 |
9,749.99 |
| Hang Seng |
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14,180.79 |
-33.25 |
-0.23% |
2-Dec-04 |
14,261.79 |
17-May-04 |
10,967.65 |
| NASDAQ |
|
2,150.91 |
23.06 |
1.07% |
15-Dec-04 |
2,162.55 |
12-Aug-04 |
1,752.49 |
| Nikkei |
|
11,125.92 |
22.50 |
0.20% |
27-Apr-04 |
12,218.44 |
10-Feb-04 |
10,365.40 |
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Commodity Charts & Data | Forex Charts & Data | Interest Rate Charts & Data | Index Charts & Data |
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source: DTN Market Access
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©
2004
theFinancials.com
and GCI Financial Ltd
All rights reserved.
Republication or redistribution of this content is expressly prohibited without
the prior written consent of theFinancials.com and
GCI Financial Ltd
DISCLAIMER: Commentary and market information is
provided for informational purposes only. The information contained in this
report is gathered from reputable sources and is not intended to be used as
investment advice. theFinancials.com assumes no responsibility or
liability from gains or losses incurred by the information herein contained.
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