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120.01 Bull Trigger Within reach:....>

EURO-YEN TECHS
EURO-YEN TECHS: 120.01 Bull Trigger Within reach:
*RES 4: 121.38 High Jul 25/31
*RES 3: 120.77/95 Low Jun 3 and Jun 21
*RES 2: 120.00/120.01 High Oct 11 / High Sep 13 and bull trigger
*RES 1: 119.89 100-DMA
*PRICE: 119.48 @ 05:09 GMT Oct 14
*SUP 1: 118.72 low Oct 11
*SUP 2: 118.44 Former channel top drawn off Apr 17 high
*SUP 3: 117.58 Low Oct 10
*SUP 4: 117.08 Low Oct 3 and Oct 7
EURJPY rallied Friday to extend last weeks gains. The cross has cleared a decent
bullish path to stage a test of the key resistance at 120.01. This is the Sep 13
high and key bull trigger. A break would confirm a trend reversal to bullish and
further reinforce the recent breach of channel resistance drawn off the Apr 17
high, opening 120.77 and 120.95. On the downside, the former channel top now
offers support at 118.44.

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