AceTraderforex June 3, 2013: DAILY EUR/JPY CROSS OUTLOOK

[B]DAILY EUR/JPY CROSS OUTLOOK - 130.36
03 Jun 2013 [I]07:42GMT[/I][/B]

Fri’s selloff fm 132.08 to 130.27 suggests choppy trading inside 129.95-132.57 broad range wud continue with downside bias n below 130.20 wud signal another leg of corrective fall Wed’s 3-1/2 year peak at 133.82 has taken place, 129.95 n later 129.60.

Hold short n only abv 131.10 wud dampen bearishness, yields another rise to 131.70/80.

[B]STRATEGY[/B] : Hold short

[B]POSITION[/B] : Short at 130.85

[B]OBJECTIVE[/B] : 130.05

[B]STOP-LOSS[/B] : 130.75

[B]RES[/B] : 130.98/131.10/131.37

[B]SUP[/B] : 130.20/129.95/129.60