[IMAGE] Forums Discuss these points in the Forums:  Forexnews Forum       Technicals Live Charts Analysis available from: Cornelius Luca   J.P. Chorek   Technical Research Ltd.   Charts & News featuring Standard & Poor's        Interest Rates  US: Japan: Eurozone: UK: Switzerland:   1.75%  0.15%  3.25%  4.0%  1.25-2.25%        [IMAGE]   	 [IMAGE]  Japanese Forex Trading Preview  January 20, 7:00 PM: EUR/$..0.8858 $/JPY..132.40 GBP/$..1.4368 $/CHF..1.6592  Japanese Forex Trading Preview  by Darko Pavlovic  No key data.   Dollar seem well supported around 132.60 yen, waiting for official comments from US Treasury Secretary O'Neill who will meet Japanese officials on Monday to talk about the USD/JPY directions. In the past three months the yen fell around 9% vs. the dollar making Japanese currency more competitive abroad. A strong dollar policy prompted talks between representatives of the National Association of Manufacturers and the US Treasury Undersecretary for International Affairs Taylor on Friday. Prior to his meeting with NAM representatives, Undersecretary Taylor reiterated that O'Neill still believes in the strong dollar policy. Taylor said he would listen to their view on the economy, which he forecasted would grow at a rate around 3% by the end of the year, thus marking a "pretty good recovery". On Friday Bank of Japan Governor Hayami said that that it was important to maintain strong currency, adding that there is no central bank, which would like to see its currency decline. In contrast, Finance Minister Shiokawa said that  the value of the yen is decided by market movements  suggesting that the government is happy with the current currency's level. Economic Minister Takenaka said that yen's recent fall was natural taken into consideration weak economy and central bank's monetary easing. Support is seen at 132.0, 131.80 and 131.60. Resistance is eyed at 133.0 and 133.35.  EUR/USD is trading around 88.50 unchanged from Friday, as EUR/JPY also climbed nearly two-third yen to a 3-session high of 117.38. On Friday, the single currency had been weighed by the largest monthly drop in 9 years in Italian industrial production of 2.6% m/m or 5.7% y/y that prompted Italy's ISAE to gloomily remark that it foresaw preliminary Q1 2002 industrial output being "stagnant" and in line with Q4 2001. The EU's statement that Eurozone GDP for 2001 could have fallen to a level between -0.3% and 0.1% also lent to the gloom hitting the euro. Resistance is seen at 88.80, 89.50 and 90.0. Support is viewed at 88.0, 87.50 and 87.0.  Looking ahead to this week, key US indicators include the Index of Leading Indicators, jobless claims and existing home sales. Fed Chairman Greenspan's testimony before the Senate Budget Committee will be the major event of the week, with markets cautious to hear his remarks on the economy. From the Eurozone, major data due for release consist of Euroarea foreign trade, Euroarea industrial production, HICP, French CPI, Italian industrial orders, Euroarea labor costs, German CPI, Italy's ISAE consumer confidence survey, ECB monthly bulletin, German PPI, Italian CPI, Italy's ISAE industrial confidence survey, Italian retail sales and Spanish PPI. Economic highlights from Japan comprise the trade balance, index of tertiary sector activity, corporate service prices and consumer prices.   The ministerial conference on Afghan reconstruction opening Monday in Tokyo is expected to goes through a three-phase rebuilding process and a promise of total financial assistance of about 2.5-3.0 billion dollars over the next two-and-a-half years. Japan promised to donate around 500 mln dollars.      	[IMAGE] Audio Mkt. Analysis Dollar Fails to Rise on Strong U.Michigan        Articles & Ideas  Philly Fed-Supported Optimism   EUR/USD: Technical Analysis       Articles & Ideas Forex Glossary   Economic Indicators   Forex Guides   Link Library      [IMAGE]  	
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