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Bearish outlook: *RES 4: 120.21......>

EURO-YEN TECHS: Bearish outlook:
*RES 4: 120.21 Low Jul 24
*RES 3: 120.05 Low Jul 25
*RES 2: 119.85/88 38.2% retracement of Jun-Aug fall/High Aug 06
*RES 1: 119.16/41 High Aug 8/200-hma
*PRICE: 118.55 @ 09:30 GMT Aug 09
*SUP 1: 118.32/28 Low Aug 6/Lower Bollinger Band (2%)
*SUP 2: 117.99/68 Lower Bollinger Band (2%)/YTD low
*SUP 3: 117.05 Lower 2.0% 10-dma envelope
*SUP 4: 117.00 Psychological support
Tuesday's rejection of the 120.00 level has seen EURJPY struggle for traction
and remain locked in the longer-term downtrend. Momentum and technical
indicators remain bearish with key focus on support from the ytd low at 117.68,
a break opens a move towards round number support at 117.00. Bulls need a
convincing break and hold of 120.00, before challenging the 50% retracement of
the Jun-Aug fall at 120.52.

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