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Consolidating But Remains Bullish....>

EURO-YEN TECHS: Consolidating But Remains Bullish
*RES 4: 121.81 200-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: 120.21 @ 05:52 GMT Nov 22
*SUP 1: 119.85 Low Nov 20
*SUP 2: 119.25 Low Nov 14 and bear trigger
*SUP 3: 118.76 61.8% retracement of Oct 3 - Oct 21 rally
*SUP 4: 118.74 Bear channel base drawn off the Sep 3 low
EURJPY continues to consolidate. The underlying outlook remains bullish though.
The candle pattern on Nov 15 is significant, a bullish engulfing reversal that
followed a test of important support at 119.50/40. This signals the end of the
move lower since Oct 21 and places the cross back in a bull camp. The intraday
bull trigger is 120.69, a break would pave the way for a climb towards 121.48,
Oct 21 high. Support lies at 119.25.

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