K.B. Advisory Ltd. 

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USD/JPY                                         

Please note that all levels quoted in this report are market BID prices

ASIAN M.I.T.S. -  Date: Wednesday, 2 March 2005 - Market Rate: 104.33
Range last 24 hour period to GMT22:00
High: 104.77 Low: 104.14 Close: 104.37

Bearish USD daily trend and momentum alignment continues to favour USD depreciation vs JPY. Looking for a break below 104.14 to trigger selling onto 103.74, potentially nearer "Key Weekly Trend Support" at 102.32. Rally attempts ideally will peak around 104.53/69, but should stay capped below 104.86 if we are to see lower dollar levels by GMT22:00.

EUROPEAN M.I.T.S. - Market Rate: 104.63
Range last 24 hour period to GMT05:00
High: 104.72 Low: 104.14 Close: 104.60

USD exploring upper resistance levels, but if the market peaks in this time zone below 105.00, then we remain optimistic for price declines within the next 24 hour cycle. Sub 104.44 encourage a move to retest 104.14 (Lower adds confidence for sustained downside progress, targeting initially key weekly support at 102.32).

AMERICAN M.I.T.S - Market Rate: 
Range last 24 hour period to GMT11:00
High: 0 Low: 0 Close: 0

To come..

M.I.T.S. recommendations:

Trading Strategies: March PL
ASIA = Place an order to "Sell" USD at 104.13 - if done SL 104.63 0
EUROPE = Place an order to "Sell" USD at 104.13 - if done SL 104.63 0
AMERICA =  0

Short Term Outlook: Bearish USD - Trend Reversal 106.55
Medium Term Outlook: Bullish USD - Trend Reversal 102.31
Long Term Outlook: Bearish USD - Trend Reversal 108.92

Key Technical Points:
Sectors Support Minor Support Intermediate Support Major Resistance Minor Resistance Intermediate Resistance Major

ASIA

 104.21 104.05 103.88 104.53 104.69 104.86
EUROPE 104.44 104.29 104.13 104.76 104.91 105.07
AMERICA 0 0 0 0 0 0