AceTrader May29: DAILY USD/JPY OUTLOOK

[acetraderfx]

DAILY USD/JPY OUTLOOK - 102.28
28 May 2013 22:56GMT

Y'day's rally to 102.51 due to the rebound in Japan's equities suggests the 1st leg of correction
fm last Wed's 4-1/2 year peak at 103.74 has ended at 100.66 last Fri, however, reckon upside wud be ltd to 102.84 n yield another strg retreat later.

Still favour selling on upmove for 101.85 but below 101.35 needed to extend weakness twd 100.66.

STRATEGY : Sell at 102.70

OBJECTIVE : 101.85

STOP-LOSS : 103.05

RES : 102.59/103.32/103.74

SUP : 101.87/101.35/100.96