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Focus Is On The Directional..........>

EURO-YEN TECHS
EURO-YEN TECHS: Focus Is On The Directional Triggers
*RES 4: 120.05 50-day EMA
*RES 3: 120.00 High Mar 5
*RES 2: 119.49 High Mar 10
*RES 1: 118.02 Intraday high
*PRICE: 116.73 @ 09:43 GMT Mar 12
*SUP 1: 116.52 Intraday low
*SUP 2: 116.13 Low Mar 9 / Sep 4
*SUP 3: 115.87 Low Sep 3 and major support
*SUP 4: 115.32 1.382 projection of Jan 16 - Feb 18 move from Feb 20 high
EURJPY resumed its bearish theme earlier this week, breaking sharply lower as
risk aversion spiked once again. Tuesday though saw a sharp reversal as JPY came
under pressure and the cross reversed Monday's entire downleg. The cross is
softer again today.. The near-term likely direction is difficult to assess and
the focus is on two important directional triggers. On the upside, watch 119.49,
Mar 10 high and on the downside, 116.13, the Mar 9 low. Volatile.

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