[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 13, 7:00 PM: EUR/$..0.8942 $/JPY..131.82 GBP/$..1.4492 $/CHF..1.6530  Japanese Forex Trading Preview by Darko Pavlovic  No key data  The yen gained against the dollar after Malaysian Prime Minister Mohamed asked Japan to stem its currency decline, joining the chorus of Chinese and South Korean officials who already expressed their dissatisfaction with the recent yen fall. Japanese Trade Minister Hiranuma said Friday that the yen was nearing a downward limit of 135 yen per dollar. The recent rhetoric from Japanese officials about the yen's recent decline come as Prime Minister Koizumi's current visit to Southeast Asia. Seems that Japan is attempting to appease its Asian neighbors who have become increasingly vociferous as traders test the yen's downside. Chinese Foreign Ministry spokesman Sun Yuxi commented that the "continued devaluation of the Japanese yen will have an adverse impact on the economic development and financial stability in Asia", and expressed China's hopes that Japan would take a responsible attitude on the yen to prevent falls in other Asian currencies. Economics Minister Takenaka pronounced that the current exchange rate is not too far off from fundamentals, since in his view the Japanese economy could be faced with more downside in the next 3-6 months. Taku Yamasaki, secretary general of Japan's ruling LDP party said that while current tax rates will remain unchanged or be lowered for the time being, they may be raised in the mid- and long-term in order to achieve fiscal structural reform. U.S. President Bush will make his first official visit to Japan in the second half of February. His meeting with Prime Minister Junichiro Koizumi will possible be dominated by discussions on how to secure Japan's economic recovery and avert a global recession Support is seen at 131.0 and 130.80. Resistance is eyed at 132.20, 133.0 and 133.40.  On Friday, Federal Reserve Chairman Greenspan stated the US economy is stabilizing though it continues to face "significant near-term risk. Therefore, he cautioned against prematurely concluding that the forces restraining the economy have abated even though recent data has become mixed from "unremittingly negative". Greenspan noted that energy prices must continue to fall. He opined that the present cycle will be driven by corporate profits and capital investment. Finally, Greenspan commented that it is unclear whether the effects of September 11 on productivity are small or just delayed. Greenspan's speech likely mean that the Fed is maintaining an easing bias, thereby hinting possibly at another 25-bp rate cut to 1.5% at the next FOMC meeting on January 29-30. In fact, Fed Fund futures indicated a 60% chance of a rate cut this January following Greenspan's words. Looking ahead to this week, major indicators due from the US consist of retail sales, business inventories, CPI, industrial production, the Fed Beige Book, jobless claims, housing starts and permit, the Philadelphia Fed survey, international trade, and the University of Michigan confidence survey.   The single currency is trading around 89.43 deriving strength from Greenspan's cautious stance of the outlook of the US economy and Friday's remarks from EU's Prodi who saidthat the euro will be an attractive alternative to the dollar. Prodi also observed there are signs the European economic downturn may be short-lived. Traders will take their cues from next week's key Eurozone data including Spanish retail sales, German ZEW economic sentiment survey, French industrial production, German GDP, Italian CPI, Dutch GDP, Euroarea industrial production and Italian industrial production. Upside capped at 89.80 and 90.0. Support stands at 89.0, backed by 88.80 and 88.60.      	[IMAGE] Audio Mkt. Analysis BoE inaction Lifts GBP, Comments Hurt CHF        Articles & Ideas  Greenspan Widens Door for One More, But...   A Weak Yen Is the Solution for Now        Articles & Ideas Forex Glossary   Economic Indicators   Forex Guides   Link Library      [IMAGE]  	
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