21 Jul 2008 01:37 GMT
USD/JPY - 106.78
Dollar has risen in part due to cross trading in yen after finding renewed buying interest on Friday at 105.97 and the upmove from 103.77 should extend to 107.30/40 and possibly towards resistance at 107.75, however, loss of upward momentum has increased risk of a correction later this week. On the downside, only below 105.97 would signal aforesaid rise has formed a temporary top and bring retracement towards 105.50/60.
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