DAILY USD/JPY OUTLOOK - 95.77
21 Mar 2013 06:20GMT
Despite dlr’s resumption of near term upmove fm 94.07 (Mon) to 96.16 y’day, intra-day retreat due to cross unwinding in yen suggests downside bias remains n below 95.38 wud signal further ‘choppy’ consolidation below 96.71 top wud continue, 94.72.
In view of said st risk, exit long as a daily close abv 96.28 needed to re-test 96.71 peak later.
STRATEGY : Exit long
POSITION : Long at 95.80
RES : 96.13 / 96.71 / 97.40
SUP : 95.38 / 94.72 / 94.07