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Firmer *RES 4: 123.79 Bull channel...>

EURO-YEN TECHS
EURO-YEN TECHS: Firmer
*RES 4: 123.79 Bull channel top drawn off the Sep 3 low
*RES 3: 122.80 1.382 projection of Sep 3 - Sep 13 rally from Oct 3 low
*RES 2: 122.65 High Dec 13 and bull trigger
*RES 1: 122.46 High Dec 17
*PRICE: 122.03 @ 10:32 GMT Dec 27
*SUP 1: 121.57 Intraday low
*SUP 2: 121.06 Low Dec 25 and key near-term support
*SUP 3: 120.76 Low Dec 12
*SUP 4: 120.38 Low Dec 11
EURJPY has found support at 121.06, Dec 25 low. The recovery off this level
provides an early indication the corrective pullback between Dec 13 and Dec 25
has run its course. If correct, this signals potential for an extension higher
and for a retest of 122.65 high, Dec 13 high. Clearance of this level would open
123.79, the top of the bull channel drawn off the Sep 3 low. A break below
121.06 would instead signal a test of the channel base currently at 120.05.

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