Trial now
EURIBOR OPTIONS

Bull Put Spread

HUNGARY

'Dovish' NBH Hike Weighs on HUF

SOUTH AFRICA

Headline CPI Seen Creeping Higher

GBPUSD

Sterling Edging Lower Through European Open

Bullish Engulfing Reversal *RES 4:...>

EURO-YEN TECHS
EURO-YEN TECHS: Bullish Engulfing Reversal
*RES 4: 121.88 200-DMA
*RES 3: 121.48 High Oct 21 and bull trigger
*RES 2: 121.11 High Nov 7
*RES 1: 120.64 High Nov 12
*PRICE: 120.37 @ 05:56 GMT Nov 18
*SUP 1: 119.25 Low Nov 14
*SUP 2: 118.76 61.8% retracement of Oct 3 - Oct 21 rally
*SUP 3: 118.59 Bear channel base drawn off the Sep 3 low
*SUP 4: 118.12 76.4% retracement of Oct 3 - Oct 21 rally
Friday marked an interesting technical day in EURJPY. Recently the cross has
corrected lower, since peaking at 121.48 on Oct 21. This saw prices retrace
within a bull channel drawn off the Sep 3 low. Friday's bounce followed a test
of an important support at 119.50/40. The firm close near session highs has
confirmed a strong candle pattern, a bullish engulfing reversal. This placed the
cross back in the bull camp and attention turns to resistance at 121.48.