Daily Outlook on Crosses - EUR/JPY May 22, 2013


[B]DAILY EUR/JPY CROSS OUTLOOK - 132.45

22 May 2013 06:33GMT[/B]

Euro’s breach of last Fri’s high at 132.55 signals consolidation with upside bias is seen for retest of last Tue’s 3-1/2 year top at 132.78, break wud confirm LT uptrend has resumed n extend gainto 132.95/00 b4 prospect of retreat.

Raise long entry with stop as indicated, below wud prolong choppy trading n risk 131.57/60.

STRATEGY : Buy at 131.15

OBJECTIVE : 132.90

STOP-LOSS : 131.80

RES : 132.78/133.00/133.39

SUP : 131.94/131.57/131.05