MARKET OUTLOOK THIS WEEK

The week ahead offers a barrage of economic news for currency traders to digest, with the key highlights coming from the US. Markets will focus closely on the FOMC monetary policy decision on Wednesday afternoon. We expect the Fed to ease policy by 25-basis points to 2.0%, and maintain a downbeat outlook on the economy similar to its previous statement. Nonetheless, we anticipate the Fed to leave policy unchanged for the remainder of the year after this week＊s rate cut given the aggressive easing that has already materialized.

In addition to the highly anticipated US jobs report on Friday, the calendar also consists of April consumer confidence, US Q1 advanced GDP, PCE, Chicago PMI, March consumption, personal income, durable goods orders, and factory orders. The April unemployment rate is expected to hold steady at 5.2%, while non-farm payrolls are not expected to improve, posting another 80k loss of jobs. The Q1 advanced reading for GDP is seen slowing to 0.2% from 0.6% previously, the PCE index is expected to ease to 3.7% from 3.9% in the previous quarter.

The greenback rallied to its highest levels in two-weeks against the yen at 104.79 and euro at 1.5590. While it remains to be seen whether the recent dollar rebound will be sustainable, Eurozone officials have become more outspoken about their unease over the euro＊s strength. ECB President Trichet said ※there have been at times sharp fluctuations between major currencies§ and expressed concern about the ※possible implications on economic and financial stability.

GBPJPY . GBPUSD

GBP USD is in a consolidation after the last bearish movement. The price should find a support above 1.9770. If the support is broken then the target will be 1.9600.

GBP JPY is in a range between 203.60 and 206.20 The price should continue to move in Bollinger bands. If the support is broken then the target will be 202.50.

GBPJPY

GBPJPY

SHORT position at 204.00

STOP LOSS above 205.00 (-100 pips).

THE TARGETS are 203.60 / 203.24

OP, SL & TP at your own risks

GBPJPY

GBPJPY

SHORT position at 200.70

STOP LOSS above 201.70 (-100 pips).

THE TARGETS are 200.38 / 200.18 / 199.86

OP, SL & TP at your own risks

GBPJPY

Wed. 16^th. April.2008

GBPJPY

The price should find a support above 198.50. If the support is broken then the target will be 196.00

GBP USD

The downtrend should continue. The target is 1.9400

GBPJPY

GBPJPY

The price should continue to move in 199.45 – 200.50 range. If the support is broken then the target will be 198.00.

GBPJPY . GBPUSD

GBP USD is in a range between 1.9650 and 1.9850. The volatility is low and is in a bearish configuration. The price should find a support above 1.9650. If the support is broken then the target will be 1.9400.

GBP JPY is in a consolidation. The volatility decreases. Bollinger bands are tightened and indicates a bearish pressure. The price should find a support above 198.50. If the support is broken then the target will be 197.00.

GBPJPY

GBPJPY

LONG position at 201.40

STOP LOSS below 202.40 (-100 pips).

THE TARGETS are : 201.86 / 202.54

OP, SL & TP at your own risks

GBPJPY . GBPUSD

GBP JPY is in a consolidation after the last bullish movement. GBP JPY is in a range between 202.30 and 205.05. The volatility is low. Bollinger bands are flat. The price should continue to move in 202.30 / 205.00 range.

GBPJPY

LONG position at 202.30

STOP LOSS below 201.30 (-100 pips).

THE TARGETS are 202.88 / 203.36 / 204.16 / 204.80

OP, SL & TP at your own risks

GBP USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. Oscillators are neutral. The price should find a support above 1.9845. If the support is broken then the target will be 1.9740.

NFP

Non Farm Payroll

Consensus Estimate 50K to 70K Loss in Payroll Jobs

GBPJPY

GBPJPY

SHORT position at 204.00

STOP LOSS above 205.00 (-100 pips).

THE TARGETS are 203.56 / 203.20

OP, SL & TP at your own risks

GBPJPY

GBPJPY

LONG position at 203.50

STOP LOSS below 202.00 (-150 pips).

THE TARGETS are 204.33 / 204.64 / 205.18

SHORT position at 202.76

STOP LOSS above 203.76 (-100 pips).

THE TARGETS are 202.46 / 201.76

OP, SL & TP at your own risks

GBPJPY

GBPJPY

SHORT position at 201.90

STOP LOSS above 202.90 (-100 pips).

THE TARGETS are 201.46 / 201.16 / 200.70

SHORT position at 201.10

STOP LOSS above 202.10 (-100 pips).

THE TARGETS are 200.86 / 200.50 / 200.20

OP, SL & TP at your own risks.

GBPJPY

GBPJPY . WED. 2 APRIL

GBPJPY

SHORT position at 200.80

STOP LOSS above 201.80 (-100 pips).

THE TARGETS are 200.30 / 199.80 / 199.24

SHORT position at 199.72

STOP LOSS above 200.72 (-100 pips).

THE TARGETS are 199.40 / 198.80 / 198.40 / 197.92

OP, SL & TP at your own risks.

GBPJPY

GBPJPY

SHORT position at 200.30

STOP LOSS above 201.30 (-100 pips).

THE TARGETS are 199.80 / 199.24

SHORT position at 199.46

STOP LOSS above 200.46 (-100 pips).

THE TARGETS are 198.80 / 198.40 / 197.92

OP, SL & TP at your own risks.

GBPJPY

GBPJPY

SHORT position at 199.00

STOP LOSS above 200.00 (-100 pips).

THE TARGETS are 198.80 / 198.40 / 197.12

OP, SL & TP at your own risks.

GBPJPY . EURJPY

Wed, Apr 2 - 7 DOWNTREND

Tue, Apr 8 - 13 UPTREND