flag_yen.gif DAILY USD/JPY OUTLOOK - 97.34

01 May 2013 22:51GMT

Despite dlr's choppy sideways trading abv Tue's 2-week low of 96.99, as long as y'day's European res at 97.68 holds, decline fm last Mon's high of 99.89 shud resume for re-test of said sup n then twds 96.58 b4 rebound due to loss of momentum.

Sell on recovery for weakness to 96.80 or turn long at 96.70 in anticipation of a bounce to 97.55.

STRATEGY : 1.Sell at 97.65 or 2.Buy at 96.70

OBJECTIVE : 1)96.80 or 2)97.55

STOP-LOSS : 40 points

RES : 97.68 / 98.20 / 98.48

SUP : 96.99 / 96.58 / 95.80