TECHNICAL ANALYSIS 05/12/2012

usdjpy Pivot: 81.90. Our preference: LONG positions above 81.9 with 82.35 & 82.55 as next targets. Alternative scenario: The downside breakout of 81.9 will open the way to 81.65 & 81.4. Comment: the RSI calls for a rebound. Trend: ST Ltd Upside; MT Range Key levels Comment 82.75** Intraday resistance 82.55* Intraday resistance 82.35** Intraday resistance 82.25 Last 81.9*** Intraday pivot point 81.65** Intraday support 81.4** Intraday support

eurjpy Pivot: 107.15 Our preference: Long positions above 107.15 with targets @ 108.15 & 108.3 in extension. Alternative scenario: Below 107.15 look for further downside with 106.8 & 106.4 as targets. Comment: the RSI calls for a new upleg. Key levels 108.65 108.3 108.15 107.826 last 107.15 106.8 106.4

gold Pivot: 1689.00 Our preference: LONG positions above 1689 with 1708 & 1722 in sight. Alternative scenario: The downside breakout of 1689 will open the way to 1684 & 1672. Comment: the RSI is well directed. Trend: ST Bullish; MT Bullish Key levels Comment 1731** Intraday resistance 1722** Intraday resistance 1708*** Intraday resistance 1701.8 Last 1689** Intraday pivot point 1684** Intraday support 1672** Previous low

Nzdusd Pivot: 0.822 Our preference: Long positions above 0.822 with targets @ 0.8265 & 0.8295 in extension. Alternative scenario: Below 0.822 look for further downside with 0.82 & 0.8185 as targets. Comment: technically, the RSI is above its neutrality area at 50. Key levels 0.8305 0.8295 0.8265 0.82523 last 0.822 0.82 0.8185

audusd Pivot: 1.045 Our preference: Long positions above 1.045 with targets @ 1.049 & 1.052 in extension. Alternative scenario: Below 1.045 look for further downside with 1.043 & 1.041 as targets. Comment: the break above 1.045 is a positive signal that has opened a path to 1.049. Key levels 1.0545 1.052 1.049 1.04745 last 1.045 1.043 1.041