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Bullish Theme Intact *RES 4:.........>

EURO-YEN TECHS
EURO-YEN TECHS: Bullish Theme Intact
*RES 4: 122.61 High Jun 9
*RES 3: 122.12 High Jun 16 and key near-term resistance
*RES 2: 121.57 1.0% 10-dma envelope
*RES 1: 121.48 Intraday high
*PRICE: 120.73 @ 06:18 BST Jul 1
*SUP 1: 120.46 20-day EMA
*SUP 2: 119.81 Low Jun 26
*SUP 3: 119.31 Low Jun 22 and the bear trigger
*SUP 4: 118.60 Low May 29
EURJPY has traded on a firmer note this week but has today stalled at the
overnight high of 121.48. A bullish theme remains intact though following
Monday's breach of resistance at 121.10, Jun 23 high. The break higher confirmed
a positive price sequence of higher highs and higher lows. The focus is on
122.12 next, Jun 16 high and the next key hurdle for bulls. On the downside, a
move below 119.81, Jun 26 low would dent the bullish theme.

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