AceTrader June 6, 2013 : DAILY EUR/JPY CROSS OUTLOOK

[acetraderfx]

DAILY EUR/JPY CROSS OUTLOOK - 130.28
06 Jun 2013 07:11GMT

Euro's intra-day strg rebound fm a fresh 3-week low at 129.44 (AUS) suggests recent decline fm 133.82 (May) has made a temp. low, a firm break abv 130.30 needed to bring stronger retrace. to 130.65, however, reckon 131.00 wud hold n yield retreat.

Trade fm short side n below 129.81 wud signal recovery is over, bring weakness twd 129.44.

STRATEGY : Hold short

POSITION : Short at 130.25

OBJECTIVE : 129.45

STOP-LOSS : 130.35

RES : 130.30/130.65/131.00

SUP : 129.81/129.44/128.99