[B]WEEKLY EUR/YEN CROSS OUTLOOK - 121.20[/B]
[B]01 Mar 2013 [I]19:56GMT[/I][/B]
Y’day’s breach of 122.25 n to 118.74 confirms LT uptrend fm 94.12 (2012 low) has indeed formed a top
earlier at 127.71 n despite intra-day rebound, consolidation with downside bias remains, below 118.74
118.74 needed to extend said decline fm a 34-month peak to 118.00/10 but sup at 117.06 shud hold.
Sell again on recovery n only a daily close abv122.25 confirms temp. low is made, risks stronger
retrace. to 123.20 but 125.25 shud remain intact.
[B]STRATEGY[/B] : Stop hit
[B]POSITION[/B] : Short at 121.20
[B]STOP-LOSS[/B] : 121.2
[B]RES[/B] : 121.45/122.55/123.78
[B]SUP[/B] : 118.74/117.06/115.99