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Finds Support *RES 4: 123.22 76.4%...>

EURO-YEN TECHS: Finds Support
*RES 4: 123.22 76.4% retracement of the Jun 5 - 22 downleg
*RES 3: 122.47 61.8% retracement of the Jun 5 - 22 downleg
*RES 2: 122.12 High Jun 16 and key near-term resistance
*RES 1: 121.97 High Jul 6 and 9 high and key resistance
*PRICE: 121.12 @ 10:31 BST Jul 13
*SUP 1: 120.26/27 Low Jul 1/10 and key S/T support
*SUP 2: 120.00/81 50-day EMA / Low Jun 26
*SUP 3: 119.31 Low Jun 22 and key support
*SUP 4: 118.87 Low May 29
EURJPY has found support at Friday's low of 120.27 with the cross also pushing
higher today. The recovery Friday suggests the sharp sell-off late last week is
a correction and as long as 120.27 remains intact, a positive tone appears to be
reinstating itself once again. If this reading is correct, scope exists for a
climb to retest firm resistance at 121.97, high Jul 6 and 9. Sub 120.27 would
see bearish pressure return.

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