[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 27, 7:00 PM: EUR/$..0.8640 $/JPY..134.80 GBP/$..1.4083 $/CHF..1.7040  Japanese Forex Trading Preview by Darko Pavlovic  No key data.   The dollar remains strong across the board after rising on Friday to a six- month high against the euro and powerful rally vs. the yen, on market confidence the U.S. economy will recover from recession in coming months yen. The yen fell for eighth day in nine on concern reports this week will show Japan's jobless rate rose to a record and consumer spending slowed in December, fueling market perception the economy is worsening. Reports due Tuesday will possibly show Japan's workers' household spending rose 0.9% in December from November, after rising 3.6% in the previous month, and the jobless rate rose to a record of 5.6% On Friday Japan's Vice Economics Minister Kobayashi said that the weaker yen is beneficial for corporate profits. In addition, fears that Japan's sovereign-debt rating will soon be downgraded has convinced most dealers that there is further weakness in store for JPY. Support is seen at 134.0, 133.80 and 133.60. Resistance is seen at 135.00, followed by 135.40 and 136.00.  The euro is trading around 86.40 after falling to a new 6-month low of 86.29 against the dollar amid optimism about the fast US recovery. On Friday, the euro came under heavy downward pressure as news of the monthly increase in Italian inflation stoked fears that the European Central Bank may not be able to cut interest rates in the near future if inflation does not fall below the 2% target level. Based on the preliminary CPI figures from 12 cities, economists forecasted Italian CPI in January would hold steady around 2.3-2.4% y/y from the previous month, but rise to 0.4-0.5% m/m vs. 0.1% in December.   Markets will also look to next week's German CPI data to see whether it confirms an upswing in inflation that may restrain the ECB from easing monetary policy. Economists forecast German CPI will rise to 0.9% m/m from 0.1% in December, and to 2.1% y/y in January vs. the previous 1.7%. Also, German IFO will likely show that business confidence rose in January, adding to expectations Europe's largest economy may recover from recession The Ifo economic is likely to rise to 85.7, from 84.9 in November. Ifo didn't conduct a survey in December. Support is seen at 86.0 and 85.55-- the 71.8% Fibonacci retracement of the move from 82.25 to 95.95. Resistance is viewed at 88.15, 88.60 and 89.10-- the 50% Fibonacci retracement of the move from 82.25 to 95.96.  Looking foward to this week, major US data due to be released include new home sales, durable goods, Conference Board Consumer Confidence, real GDP, FOMC rate decision, jobless claims, employment cost index, personal income and consumption, Chicago Purchasing Managers survey, labor market report, University of Michigan confidence survey, and ISM Purchasing Managers Index. Key Eurozone indicators consist of Euroarea M3, German Ifo business climate index, French PPI, Italian foreign trade, French INSEE industry survey, Italian PPI, German CPI, French unemployment, French current account balance, Euroarea manufacturing PMI, Euroarea HICP, Euroarea retail sales, balance of payments, German PMI, French PMI, French INSEE household survey, Italian PMI, Italian CPI and Spanish unemployment. Highlights from Japan comprise the labor force survey, the household survey of expenditures, industrial production, Shoko Chukin small firm survey and employment survey.    	[IMAGE] Audio Mkt. Analysis USD Soars to 6-month Highs on Optimism       Articles & Ideas  ECB: One More Cut    NAM & the Strong Dollar: Phase II       Articles & Ideas Forex Glossary   Economic Indicators   Forex Guides   Link Library      [IMAGE] 	
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