[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 9, 7:00 PM: EUR/$..0.8916 $/JPY..133.02 GBP/$..1.4384 $/CHF..1.6569  Japanese Forex Trading Preview by Darko Pavlovic  No key data.   USD/JPY is trading near its three years high around 133.15 boosted by fresh comments from Economic Minister Takenaka who said currency levels should be left to the markets, sparking a new yen sell. Takenaka is currently in the US and markets are looking for any indication from Washington that will tolerate further yen weakness. The yen retraced off its 3 year lows after Japan's chief government spokesman Fukuda, said the currency's 9% drop against the dollar during the past two months was   a bit rapid.'' Fukuda's comments raised speculation the government would try to slow the decline, ahead of Prime Minister Koizumi's trip to Southeast Asia. Japanese officials are in favor of a weaker yen to increase exports and help draw the economy out of recession. Officials from South Korea's Finance and Economic Ministry who expressed his discontent with the weakening in the yen because it created depression in other Asian markets. The BoJ is likely to adopt asset-backed commercial paper as a tool in its open-market operations when they meet next Tuesday and Wednesday. The BoJ wants to raise wariness about credit risk that could start to arise in late March, the end of fiscal year in Japan. A total of 22 third-sector companies went bankrupt in calendar 2001, most of them in regional tourism and leisure industries. Koizumi left Japan on Wednesday morning for a weeklong tour of five Southeast Asian nations, which include Philippines, Malaysia, Thailand, Indonesia and Singapore and deliver a speech on Japan's Southeast Asia policy in Singapore. According to the Ministry of  Telecommunications Japan will be able to create 1.85 million jobs by 2005. Resistance is seen at 133.40 and 134.50. Support is viewed at 132.20, 131.50 and 131.0.   The euro is trading around 89.15 after falling to a one and a half week lows of 88.66 after Eurozone business climate fell to a 5-1/2 year low of -1.23 in December from -1.20 in Nov. The greater-than-expected upward revision in Q3 labor costs and earnings to 3.3% from the previous 2.7% was also cause for concern. Finally, German Chancellor Schroeder's statement that the German government would soon announce measures to promote low wage job creation without hurting deficit goals worked more to undermine the euro than shore up the currency. The single currency benefited from fall in the US stocks, which retreated into negative territory late in the trading session on a combination of rumors and a large sell-order. The Dow fell 56 points to 10094 and NASDAQ finishing down 10 points to 2044. For most of the day, equities had been boosted by Cisco's announcement that it anticipated an increase in its market share and planned to make acquisitions to diversify its product line. Upbeat outlooks from Oracle and Coach also helped lift shares. Initial support is seen at 89.0, backed by 88.80 and 88.60. Upside capped at 89.55, 89.80 and 90.0.  The Federal Reserve is planned to meet for its monetary policy meeting on January 29-30 in the peak of earnings season. While there are some bears who expect gloomy results in the first quarter compared with the previous one, other investors are bullish about the equity markets' outlook given that so far earnings expectations have been fairly optimistic.  This week's major US indicators comprise jobless claims, import and export prices, wholesale trade and PPI. Key Eurozone economic releases include Euroarea GDP, ECB monthly bulletin, German industrial production, German foreign trade, Spanish industrial production, Dutch manufacturing production, French GDP, French current account, French CPI, Dutch CPI and Spanish CPI. Highlights from Japan consist of wholesale prices, money supply and the ESRI Tokyo consumer sentiment survey. The major event of this week will be the Bank of England's monetary policy meeting on Thursday, although no rate cut is expected.     	[IMAGE] Audio Mkt. Analysis Takenaka Leaves Little Doubt on Japan's FX Stance        Articles & Ideas  What's Next For the Euro?   A Look Back at 2001, Forex Themes for 2002       Articles & Ideas Forex Glossary   Economic Indicators   Forex Guides   Link Library      [IMAGE]  	
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