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Correction Or Reversal? *RES 4:......>

EURO-YEN TECHS
EURO-YEN TECHS: Correction Or Reversal?
*RES 4: 121.88 High Jan 23
*RES 3: 121.40/50 High Feb 20 / 2.0% Upper Bollinger Band
*RES 2: 121.04 High Feb 27
*RES 1: 120.95 Intraday high
*PRICE: 120.11 @ 06:07 GMT Mar 3
*SUP 1: 118.07 Low Mar 2
*SUP 2: 117.80 3.0% Lower Bollinger Band
*SUP 3: 117.72 2.0% 10-dma envelope
*SUP 4: 117.52 76.4% Sep 2019 - Feb 2020 Rally
EURJPY bounced sharply higher yesterday. It remains too early at this stage to
determine whether the recovery is a reversal or a correction although the
directional bias is in a more neutral state now following yesterday's recovery.
A break of yesterday's low of 118.07 would open the early October lows at
117.08. Clearance of this support would pave the way for weakness towards the
2019 low at 115.87. The next firm resistance is 121.40, the Feb 20 high.

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