Focus Is On Gains *RES 4: 121.73.....>

EURO-YEN TECHS: Focus Is On Gains

*RES 4: 121.73 200-DMA

*RES 3: 121.48 High Oct 21 and bull trigger

*RES 2: 121.11 High Nov 7

*RES 1: 120.69 High Nov 18

*PRICE: 120.04 @ 10:33 GMT Nov 26

*SUP 1: 119.58 Low Nov 25

*SUP 2: 119.25 Low Nov 14 and bear trigger

*SUP 3: 118.90 Bear channel base drawn off the Sep 3 low

*SUP 4: 118.76 61.8% retracement of Oct 3 - Oct 21 rally

EURJPY is largely unchanged and remains bullish. The Nov 15 candle pattern, a

bullish engulfing reversal that followed a test of important support at

119.50/40 is still seen as a significant bullish development. It signals the end

of the move lower since Oct 21 and places the cross back in a bull camp. The

intraday trigger for gains is 120.69, a breach would pave the way for a climb

towards 121.48, Oct 21 high. Initial support lies at 119.25, Nov 14 low.