Bullish Outlook Remains Intact.......>

EURO-YEN TECHS: Bullish Outlook Remains Intact

*RES 4: 123.89 Bull channel top drawn off the Sep 3 low

*RES 3: 122.80 1.382 projection of Sep 3 - Sep 13 rally from Oct 3 low

*RES 2: 122.65 High Dec 13 and bull trigger

*RES 1: 122.50 High Dec 27

*PRICE: 121.83 @ 05:56 GMT Dec 31

*SUP 1: 121.57 Low Dec 27

*SUP 2: 121.06 Low Dec 25 and key near-term support

*SUP 3: 120.76 Low Dec 12

*SUP 4: 120.38 Low Dec 11

EURJPY found support last week at 121.06, Dec 25 low. The recovery off this

level provided an early indication the corrective pullback between Dec 13 and

Dec 25 has run its course. If correct, this signals potential for a retest of

122.65 high, Dec 13 high. Clearance of this level would open 123.89, the top of

the bull channel drawn off the Sep 3 low. A break below 121.06 is required to

instead signal scope for a test of the channel base currently at 120.15.