Bearish Threat Remains In Place......>

EURO-YEN TECHS: Bearish Threat Remains In Place

*RES 4: 117.31 High May 4

*RES 3: 116.90 1.0% 10-dma envelope

*RES 2: 116.85 High May 12 and key near-term resistance

*RES 1: 116.41 High May 13

*PRICE: 115.91 @ 05:45 BST May 18

*SUP 1: 115.30/33 Low May 11 / Low May 14

*SUP 2: 114.43 Low May 6 and bear trigger

*SUP 3: 113.87 1.382 projection of the Feb 20 - Mar 9 decline from Mar 25

*SUP 4: 113.73 Low Nov 9, 2016

EURJPY found support on May 6 at 114.43, May 6 low however the recovery from

this level stalled at 116.85 last week on May 12. 116.85 for now, marks a key

near-term resistance where a break would fuel bullish interest and open 117.78,

Mar 30 high. The cross recently traded at levels last seen in Nov 2016 and also

cleared an important support at 115.45, Apr 29. This highlights the stronger

bearish threat with 114.43 the trigger for a resumption of weakness.