[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  March 12, 7:00 PM: EUR/$..0.8746 $/JPY..129.03 GBP/$..1.4139 $/CHF..1.6797  Japanese Forex Trading Preview by Darko Pavlovic   At 6:50 PM Japan Feb net foreign bond selling (exp n/f, prev n/a)  The dollar recovered against the yen to 129.30, as Japanese currency was hurt by 2.6% fall in Nikkei. Markets wary of possible forex intervention from Japanese government after a series of verbal warnings that rapid yen's strength is not in line with economic fundamentals. The Japanese currency was little impacted by news that the Government Pension Investment Fund would increase its weighting of foreign bonds to 3 trillion yen or 8% from 6%, as it also invests another 11 trillion yen in domestic stocks over the next seven years. The FSA is continuing with its special inspections of large banks in fiscal 2002 in an effort to force them to dispose of more bad loans. Last November, the agency began inquiring firms whose stock prices or credit ratings had fallen and which had more than 10 billion yen in outstanding loans. The Nippon Research Institute announced that Japanese consumers are becoming more optimistic about their home finances in the coming year. February's consumer sentiment index rose 3 point higher from December to 155. Japan Feb net foreign bond selling was 637.1 bln yen (Jan Y3.0712 trln selling). Foreigners' Feb net Japan bond selling 1.0420 trrln yen (Jan Y1.2368 trln buying). Foreigners Feb net Japan stock selling 142.2 bln yen (Jan Y234.2 bln buying). Resistance is eyed at 129.20, followed by 129.65, 130.65 and 131.65 which marks the 38.25, 50%, and 61.8% retracements of the move from 134.95 to 126.32. Support holds at 128.0, 127.60, and 127.0. Subsequent support is seen at the 200-day moving average of 125.16.  EUR/USD is hovering around 87.45 after Eurozone Q4 GDP data showed the first contraction since 1993 as it fell to -0.2% q/q from the previous 0.1%, or to 0.6% y/y from the previous 1.4%. Analysts projected that Eurozone Q4 GDP would decline to -0.8% in a sharp contrast to a US growth rate of 1.4% in the same period that highlights stronger economic vitality in the US this year. Upside capped at 87.60, 88.10--the 50% Fibonacci retracement of the move between the 90.63 high to the 85.63 low, 88.50-- the 200-day moving average, and 88.70-- the 61.8% retracement of the aforementioned move. Support is seen at 87.0, 86.70 and 86.0-- the support point lying on trend line extending from the 83.50 low through the 85.63 low.   Markets await tomorrow's release of US retail sales, which are expected to rise to 0.9% in February from the previous -0.2%, or to 3.6% y/y from the previous 2.8%, boosted by surprisingly robust light vehicle sales.  This week's US economic highlight include retail sales, jobless claims, business inventories, import/export prices, current account balance, PPI, industrial production, and the University of Michigan consumer confidence survey. Key Eurozone indicators consist of Spanish CPI, ECB monthly bulletin, French employment, French industrial production, Italian industrial production, German retail sales, French trade balance, and Italian CPI. Major data from Japan comprise the balance of payments and industrial production.    	[IMAGE] Audio Mkt. Analysis USD/JPY Regains 129       Articles & Ideas  Yen's March Madness   Will Dollar be Fuelled against the Euro?       Articles & Ideas Forex Glossary   Economic Indicators   Forex Guides   Link Library      [IMAGE] 	
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