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Finotec News Archive - August 22 2007

USD/JPY Daily Technical Reports

Inside day today as last week"s plunge in prices is consolidated further. Support found at 114.00 o/n. Rebound capped at 114.80 since and 114 in the frame again. 115.25 and 115.50 are resistance.

Benny Menashe
22 August 2007

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Technical Analysis:

Inside day today as last week"s plunge in prices is consolidated further. Support found at 114.00 o/n. Rebound capped at 114.80 since and 114 in the frame again. 115.25 and 115.50 are resistance. Rebounding daily studies need a daily close above Thur"s 116.75 high to confirm a trend reversal. 61.8% Fibo is at 116.70 to defend that pivot point.

Spot Price: 114.40

Finotec Analysis Team
22 August 2007

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Time	Event	Currency	Period	Previous	Forecast	Significance	Actual
14:30	crude oil inventories	USD	Weekly	-5.2mln	-2.8mln		1.9mln
crude oil inventories The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly increase in barrels of commercial crude oil held in inventory by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation and other economic forces.

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