The Brief Daily Forecaster 3rd December 2008

DAILY FORECAST FOR USDJPY

Bias: I prefer a bullish stance but require a break above 93.78 to
confirm

A new low was seen at 92.61 and while the subsequent recovery was
encouraging but not enough to confirm a break higher. Thus we must remain
aware that additional lows could be seen. I prefer a more direct rally and
this will be confirmed once we get a break back ...

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