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Bullish Outlook Remains *RES 4:......>

EURO-YEN TECHS
EURO-YEN TECHS: Bullish Outlook Remains
*RES 4: 122.10 2.0% 10-dma envelope
*RES 3: 121.83 76.4% Jan - Feb Decline
*RES 2: 121.48 2.0% Upper Bollinger Band
*RES 1: 121.40 High Feb 20
*PRICE: 120.04 @ 16:15 GMT Feb 24
*SUP 1: 119.93 Low Feb 24
*SUP 2: 119.54 50% of the Feb 19 range
*SUP 3: 118.47 Low Feb 18
*SUP 4: 118.00 3.0% Lower Bollinger Band
Despite Monday's pullback, EURJPY bulls remain in control. The 50-dma resistance
gave way on an intraday basis Thursday, a close above this average would further
cement a bullish case. Last week's high of 121.40 marks the near-term bull
trigger. A break would open 121.88 and 122.37 next, the Jan 23 and 21 highs
respectively. On the downside, initial support is seen at 119.54, an important
Fib.

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