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Bullish Morning Session *RES 4:......>

EURO-YEN TECHS
EURO-YEN TECHS: Bullish Morning Session
*RES 4: 122.32 High Jul 10
*RES 3: 122.05 200-DMA
*RES 2: 121.98 Channel top drawn off Sep 3 low
*RES 1: 121.48 High Oct 21
*PRICE: 120.98 @ 10:44 GMT Nov 7
*SUP 1: 120.14/01 Intraday low / High Sep 13 and former breakout level
*SUP 2: 119.75 Low Oct 16
*SUP 3: 119.12 Low Oct 15
*SUP 4: 118.76 61.8% retracement of Oct 3 - Oct 21 rally
EURJPY has performed a decent about turn this morning and still pushing higher,
defining initial support at 120.14. The failure to clear resistance last week at
121.48 however still suggests the cross remains vulnerable near-term to a
retracement / correction lower within its bull channel drawn off Sep 3 low. The
cross stalled at the channel top mid-Oct. Weakness would expose the 120.01
handle and open 119.12. Clearance of 121.48 is needed to resume the uptrend.

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