AceTraderforex June 4, 2013: INTRADAY EUR/JPY CROSS OUTLOOK


INTRA-DAY EUR/JPY OUTLOOK - 131.15
04 Jun 2013 07:25GMT

Euro’s present retreat after intra-day rally fm 129.95 (Asia) to as high as 131.39 suggests minor consolidation is in store, however, y’day’s rebound fm 129.49 confirms recent decline has made a temp. low there, upside bias still remains.

Buy again on dips for 131.35 but abv 131.39 needed to extend twd 131.57. Below 132.82, 132.60/65.

STRATEGY : Buy at 131.00

OBJECTIVE : 131.35

STOP-LOSS : 130.85

FORECAST : 130.95 / 131.30

RES : 131.39/131.57/131.94

SUP : 130.82/130.48/130.22