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Finishes Flat *RES 3: 122.16.........>

EURO-YEN TECHS
EURO-YEN TECHS: Finishes Flat
*RES 3: 122.16 200-DMA
*RES 2: 121.68 50% retracement of Mar 4 - Sep 3 decline
*RES 1: 121.48/62 High Oct 21 / Bull channel top drawn off Sep 4 low
*PRICE: 120.98 @ 16:15 GMT Oct 29
*SUP 1: 120.36 Low Oct 25
*SUP 2: 120.01 High Sep 13 and former breakout level
*SUP 3: 119.75 Low Oct 16
After starting the European session under pressure but finishing broadly flat,
attention remains on support at 120.36 and while this level holds, the near-term
outlook is bullish. This follows the recent break of 120.01, that confirmed a
bullish price sequence of higher highs and higher lows. Note, the cross has
recently stalled at the top of a bull channel drawn off Sep 4 low. This may
result in a deeper correction below 120.00. Watch support at 120.36 while the
trigger for gains is 121.48.

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