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Consolidating *RES 4: 121.81.........>

EURO-YEN TECHS: Consolidating
*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: 120.05 @ 10:39 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 has been choppy this morning within its recent range. 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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