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Bullish Focus *RES 4: 119.75 2.0%....>

EURO-YEN TECHS
EURO-YEN TECHS: Bullish Focus
*RES 4: 119.75 2.0% 10-dma envelope
*RES 3: 119.65 61.8% Fibonacci retracement Jan - May sell-off
*RES 2: 119.30 200-dma
*RES 1: 118.96 Intraday high
*PRICE: 118.74 @ 06:14 BST May 28
*SUP 1: 117.71 Low May 27
*SUP 2: 117.00 Low May 22 and key near-term support
*SUP 3: 116.85 High May 12
*SUP 4: 115.30/33 Low May 11 / Low May 14
The session started well, with EURJPY rallying to new recovery highs and topping
the 100-dma in the process. Markets, however, failed to sustain the rally, with
markets returning to neutral ahead of the close. Nonetheless, the rebound
reinforces a bullish outlook with the focus now turning to the 200-dma at 119.30
and Fibonacci resistance above at 119.65. Initial firm support has been defined
at Friday's 117.00 low, the outlook is bullish while this level holds.

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