[TaoJin88]

Daily Analysis
Choppy trading to continue
Resistance Support
109.48 - 61.8% r of 117.95-95.77
108.59 - 16 June high
108.40 - 17 June high 107.61 - 17 June low
107.18 - Prev. res
106.56 - 11 June low

USD/JPY - 107.95... Although dlr fell fm 108.28 to 107.61 in part due to
cross unwinding y'day, the pair later staged a strg rebound to 108.40 on renewed carry trade demand (selling in yen vs euro, aud n nzd) b4 retreating again in NY seeion as weak U.S. housing data put pressure on dlr across the board, dampening market's expectation of an early rate hike by the Fed.

UJ is going up, but EU did not rush down