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Bullish Theme Remains Intact *RES....>

EURO-YEN TECHS
EURO-YEN TECHS: Bullish Theme Remains Intact
*RES 4: 123.84 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: 122.20 @ 11:01 GMT Dec 30
*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 123.84, the top of
the bull channel drawn off the Sep 3 low. A break below 121.06 is required to
instead signal a test of the channel base currently at 120.10.

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