20:32 08/03 DOLLAR-YEN TECHS: Further drop seen toward Y95.49
RES 3 Y87.19 Hourly chart
RES 2 Y86.89 Monday's high
RES 1 Y86.32 Monday's NY low
CURRENT LEVEL: Y85.64
SUP 1 Y85.67 Y'day's low
SUP 2 Y85.49 61.8% proj. of Y92.89-86.96 fm Y89.15
SUP 3 Y84.82 Nov '09 low
COMMENTARY: Price trading below 21-hr, 55-hr emas, suggesting that while
the trend-following 55-hr ema (currently at Y86.24) holds, recent fall
from Y94.99 (May) to briefly penetrate yesterday's low to Y85.49, 61.8%
proj. of intermediate decline from Y92.89 to Y86.96 measured from
Y89.15, as 15-min., hourly oscillators to display bullish convergence
on move, downside to hold above previous key support at Y84.82 (Nov 26
2009) today. Website:
20:19 08/03 EURO-YEN TECHS: Below Y113.10 to extend losses
RES 3 Y114.74
RES 2 Y114.24
RES 1 Y114.19
CURRENT LEVEL: Y113.41
SUP 1 Y113.10
SUP 2 Y112.54
SUP 3 Y112.03
COMMENTARY: Rebound from Y112.03 (Fri) confirms correction from last
week's Y114.74 high has ended, subsequent fall from Y114.19 suggests
choppy trading below resistance seen but break of Y113.10 needed to
extend weakness to Y112.70/80. Above Y113.79 brings stronger gains to
Y114.19 but Y114.74 to remain intact. Website:
20:11 08/03 AUSTRALIA: Mining giant Rio Tinto is planning to invest a further $790
million to expand its iron ore operations in Western Australia's Pilbara
region, The Sydney Morning Herald reports. The aim is to expand the
annual capacity of iron operations in the Pilbara to 330 million tonnes,
London-based Rio Tinto was cited as saying in a statement. Rio Tinto's
Pilbara expansion is centered on increasing capacity at its Cape Lambert
port from the current 80 million tonnes to 180 million tonnes by 2016,
the report says.
20:57 08/03 EURO-DOLLAR TECHS: Gains may head for $1.3300
RES 3 $1.3343 Apr 30 high
RES 2 $1.3324 50% proj. of $1.2980 to $1.3262 fm $1.3183
RES 1 $1.3262 Y'day's high
CURRENT LEVEL: $1.3225
SUP 1 $1.3146 Y'day's low
SUP 2 $1.3107 Last Thursday's high
SUP 3 $1.3057 Monday's European low
COMMENTARY: Recent upmove from $1.1876 to resume after initial
consolidation, head for $1.3300 but hourly oscillators to display
bearish diverging signals, further strong gains not seen, $1.3324, being
50% proj. of N-T 1.2980 to $1.3262 rise from $1.3183 (NY reaction low),
to cap upside for minor correction. On the downside, firm breach of
yesterday's $1.3146 low confirms temporary top formed, for correction to
$1.3060, minimum 38.2% of intermediate rise from $1.2732 to $1.3262.
Website: