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Consolidating *RES 3: 121.48 High....>

EURO-YEN TECHS
EURO-YEN TECHS: Consolidating
*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: 120.12 @ 16:58 GMT Nov 21
*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
EURJPY continues to consolidate with few new technical signals. The underlying
outlook though is bullish. The climb Friday is significant in that it followed a
test of important support at 119.50/40. Also, the firm close that day near
session highs confirmed a strong candle pattern, a bullish engulfing reversal.
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 open 121.48.
Support lies at 119.25.

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