[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  February 20, 7:00 PM: EUR/$..0.8700 $/JPY..133.77 GBP/$..1.4271 $/CHF..1.6997  Japanese Forex Trading Preview  by Darko Pavlovic  At 6:50:00 PM Japan Dec Tertiary Index (exp -1.5%, prev 1.7%) Japan Dec All ind. index (exp -0.5%, prev 0.4%)  The dollar is likely to test 134 yen on Tokyo's Thursday trading following the rise in US stocks and optimism about the world's biggest economy.  In Asian trading, the Japanese currency had risen on reports that Bank of Japan Governor Hayami had asked Prime Minister Koizumi to consider injecting public funds into the ailing banking sector, although government spokesman Fukuda later denied. Markets will eye speech from former finance minister for international affairs Sakakibara alias Mr. Yen for his most of the times accurate predictions about the economic outlook. The speech is due at 1:00 AM EST. Japan Dec all industries activity index rose 1% from the previous month. The core component of tertiary sector index rose 0.7%. For the Oct-Dec quarter the all industries index fell 0.7% from the previous quarter. The tertiary index was up 0.1% In the immediate-term, the yen's losses are likely to be limited by repatriation before the Japanese fiscal year ends on March 31, after which point, the currency is seen to tumble further in the absence of crucial reform initiatives. The mid sized builder company Haseko's shares had been temporarily suspended in Tokyo trading after media reports that the company will ask creditors to covert 150 bln yen in debt to equity. The lower house Budget Committee will hold public hearings on the fiscal 2002 budget next week, clearing the way for the budget's passage in the full lower house as early as March 5. Subsequent to passage in the lower house, the government and the coalition parties expect to have the full upper house approve the fiscal 2002 budget on about March 20. The January consumer sentiment index rose 5.4 points from the previous month to -31.2, its first improvement in two months. Of respondents, 9.5% reported improved circumstances, up 2.4 pts from December, and 40.7% reported a worsening in their financial state, down 3.0 pts. The BoJ Hayami was reluctant on Feb. 15 meeting to increase its outright monthly govt. bond purchases due to negative side effects on long term rates. The Finance Minister Shiokawa has frequently said he would like the BOJ increase its JGB buys to Y1.0 trillion from the current Y800 billion. Resistance is eyed at 134.0, 134.45 and 134.85. Support holds at 133.20, 133.0 and 132.50.  EUR/USD is trading just below 87 cents as the euro failed to profit on stronger than expected Italian ISAE Consumer Confidence Survey which gained 1.6 points to 126, showing that customers felt the most optimistic in 12 years since unemployment has been falling. Market participants believe that Euroarea consumption will have to replace weak business spending in order to avoid a recession in the Eurozone. The ISAE commented that consumers were "more positive about the near-term prospects for the economy", adding that they did not anticipate significant inflationary pressures. Support is viewed at 86.80, 86.45/50 and 86.10. Resistance is seen at 87.85, 88.10 and the 200-day moving average at 88.5  Cable fell after Bank of England's Monetary Policy Committee meeting minutes showed that two of the nine members voted in favor of a 25-bp rate cut. Markets wait for tomorrow's release of UK retail sales that are expected to edge up 0.6% m/m or 5.8% y/y in January. The pound could renew its climb should the data show strong levels of consumption that would induce the central bank to raise interest rates. Support stands at 1.4225, 1.420 and 1.4150. Upside capped at 1.4340, 1.4365 and 1.440.  Markets will first assess tomorrow's US international trade balance, which is expected to widen to  28.3 billion in December from the previous deficit of  27.8 billion as sluggish global demand takes its toll on US exports.Then traders will look at tomorrow morning's release of the Index of Leading Indicators that is forecasted to post a more moderate gain to 0.5% in January from the previous increase of 1.2% due to improvements in jobless claims and in the ISM manufacturing survey.    This week's other key US indicators consist of jobless claims, Philadelphia Fed survey and the Federal budget. Eurozone highlights include German CPI, Italian industrial orders, Euroarea balance of payments, Euroarea foreign trade, French GDP, Italian CPI and Spanish CPI. The last data release from the UK this week is the CBI Industrial Trends survey. The remaining economic indicator from Japan is the index of tertiary sector activity.    	[IMAGE] Audio Mkt. Analysis Yen Tumble Drives up EUR/USD       Articles & Ideas  Off Goes the Franc, On Comes Jospin   JPY: Japan's Reform Dilemma       Articles & Ideas Forex Glossary   Economic Indicators   Forex Guides   Link Library      [IMAGE] 	
		[IMAGE][IMAGE] [IMAGE][IMAGE]	
		  This e-mail is never sent unsolicited. If you wish to unsubscribe from this or any other Forexnews.com newsletters, please click here .   Any opinions expressed by representatives of Forexnews.com or its affiliates as to the commentary, market information, and future direction of prices of specific currencies reflect the views of the individual analyst, and do not necessarily represent the views of Forexnews.com or its affiliates in any way. In no event shall Forexnews.com or its affiliates have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of information.