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Focus Is on 120.01/14 *RES 4:........>

EURO-YEN TECHS
EURO-YEN TECHS: Focus Is on 120.01/14
*RES 4: 122.32 High Jul 10
*RES 3: 122.05 200-DMA
*RES 2: 122.03 Channel top drawn off Sep 3 low
*RES 1: 121.48 High Oct 21
*PRICE: 120.28 @ 17:23 GMT Nov 8
*SUP 1: 120.14/01 Low Nov 7 / High Sep 13 and former breakout level
*SUP 2: 119.75 Low Oct 16
*SUP 3: 119.12 Low Oct 15
*SUP 4: 118.76 61.8% retracement of Oct 3 - Oct 21 rally
EURJPY is weaker today and looking to close near the day low. The failure to
clear resistance last week at 121.48 still suggests the cross remains vulnerable
near-term to a retracement / correction lower within its bull channel drawn off
Sep 3 low. The cross stalled at the channel top mid-Oct. Weakness would expose
the 120.01 support where a break would open 119.12. Clearance of 121.48 is
needed to resume the uptrend.

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