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Bullish Theme Holds *RES 4: 121.68...>

EURO-YEN TECHS: Bullish Theme Holds
*RES 4: 121.68 200-DMA
*RES 3: 121.48 High Oct 21 and bull trigger
*RES 2: 121.11 High Nov 7
*RES 1: 120.69 High Nov 18
*PRICE: 120.53 @ 10:32 GMT Nov 28
*SUP 1: 119.58 Low Nov 25
*SUP 2: 119.25 Low Nov 14 and bear trigger
*SUP 3: 119.00 Bear channel base drawn off the Sep 3 low
*SUP 4: 118.76 61.8% retracement of Oct 3 - Oct 21 rally
EURJPY maintains a bullish focus. The Nov 15 candle pattern, a bullish engulfing
reversal that followed a test of important support at 119.50/40 is still seen as
a significant bullish development. It signals the end of the move lower since
Oct 21 and places the cross back in a bull camp. This weeks recovery is
encouraging and the focus is on 120.69, Nov 18 high where a breach would open
121.48, Oct 21 high. Support lies at 119.25, Nov 14 low.

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