DAILY USD/JPY OUTLOOK - 102.49
23 Apr2014 23:07GMT
Yesterday's cross-inspired sell off from 102.69 to
102.17 indicates corrective rise from Apr's low at
101.32 has possibly formed a temp. top at 102.73 on
Tuesday and consolidation with downside bias would be seen,
below 101.86 sup would confirm n yield 101.50 later.
Hold short for this move and only above 102.73 would
abort nextend aforesaid up move toward 103.00/06.
STRATEGY : Hold short
POSITION : Short at 102.40
OBJECTIVE : 101.65
STOP-LOSS : 102.75
RES : 102.73/103.00/103.30
SUP : 102.17/101.50/101.32
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