WEEKLY EUR/YEN CROSS OUTLOOK - 123.40
25 Mar 2013 06:37GMT
Despite euro’s marginal breach of 121.56 sup to 121.44 Fri, subsequent rebound suggests ‘choppy’ trading wud continue, however, a breach of 124.50 is needed to bring stronger gain to 125.79 res n possibly twd 126.03 but price wud falter well below key daily res at 127.71 n yield selloff later.
Below 121.44 wud bring signal corrective fall fm Feb’s 34-month peak at 127.71 to retrace MT rise has resumed n extend weakness to 121.14 n 120.00.
STRATEGY : Stand aside
RES : 124.50/125.79/126.03
SUP : 122.11/121.44/121.14