Trial now
ARGENTINA

Beef Exports Deal Expected, CPI Due

Bull Channel Base Holds *RES 4:......>

EURO-YEN TECHS
EURO-YEN TECHS: Bull Channel Base Holds
*RES 4: 122.65 High Dec 13 and bull trigger
*RES 3: 122.50 High Dec 27
*RES 2: 122.02 High Jan 2
*RES 1: 121.45 Intraday high
*PRICE: 120.94 @ 17:26 GMT Jan 7
*SUP 1: 120.41/17 Bull channel base drawn off the Sep 3 low / Low Dec 3
*SUP 2: 119.99 Low Dec 9
*SUP 3: 119.58 Low Nov 25
*SUP 4: 119.25 Low Nov 14
EURJPY recovered Monday off the 120.28 low. This means key channel support has
managed to hold. The channel is drawn off the Sep 3 low and intersects at
120.41. Although Monday's gains are encouraging for bulls, a break of the
122.02, Jan 2 high is needed to reestablish a bullish tone. Bulls now have a
clear risk parameter at Friday's low of 120.17 against which to gauge S/T
directional pressure. A break of 120.17 would confirm a channel breakout.