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Bulls Hold On *RES 4: 122.61 High....>

EURO-YEN TECHS
EURO-YEN TECHS: Bulls Hold On
*RES 4: 122.61 High Jun 9
*RES 3: 122.12 High Jun 16 and key near-term resistance
*RES 2: 121.53 1.0% 10-dma envelope
*RES 1: 121.36 High Jun 29
*PRICE: 121.10 @ 06:10 BST Jun 30
*SUP 1: 119.81 Low Jun 26
*SUP 2: 119.31 Low Jun 22 and the bear trigger
*SUP 3: 118.60 Low May 29
*SUP 4: 118.25 61.8% retracement of the rally between May 6 - Jun 5
EURJPY traded strongly Monday. The cross recovered Jun 22 defining a near-term
base at 119.31 on that day and continues to trade above this level. Yesterday's
breach of resistance at 121.10, Jun 23 high reinforces the bullish theme and
opens 122.12, Jun 16 high and the next key hurdle for bulls. On the downside, a
move below 119.31 would reinstate the recent bearish pressure and open 118.25.
Initial firm support lies at 119.81, Friday's low.

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