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EURO-YEN TECHS
EURO-YEN TECHS: Bounces Sharply Off The Overnight Low
*RES 4: 121.40/45 High Feb 20 / 2.0% Upper Bollinger Band
*RES 3: 121.04 High Feb 27
*RES 2: 120.71 High Feb 28
*RES 1: 119.84 Intraday high
*PRICE: 120.67 @ 17:11 GMT Mar 2
*SUP 1: 118.07 Intraday low
*SUP 2: 117.81 3.0% Lower Bollinger Band
*SUP 3: 117.72 2.0% 10-dma envelope
*SUP 4: 117.52 76.4% Sep 2019 - Feb 2020 Rally
EURJPY is bouncing well off the overnight Monday lows. It is too early to tell
whether a reversal is taking place and for now, the near-term outlook remains
bearish. The focus is on the early October lows at 117.08. Clearance of this
support would pave the way for weakness towards the 2019 low at 115.87. For
today, support has been defined at the intraday low of 118.07 that also marks
the bear trigger. The next firm resistance is at Friday's high of 121.04.

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