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Heavy Following Breach Of Support....>

EURO-YEN TECHS
EURO-YEN TECHS: Heavy Following Breach Of Support
*RES 4: 122.01 High Jan 22
*RES 3: 121.67 Former channel base drawn off the Sep 3 low
*RES 2: 121.15 High May 5
*RES 1: 120.82 High Feb 7
*PRICE: 119.93 @ 10:39 GMT Feb 11
*SUP 1: 119.68 Low Feb 10
*SUP 2: 119.58 Low Nov 25
*SUP 3: 119.25 Low Nov 14 and key support
*SUP 4: 118.73 Low Oct 11
The EURJPY sell-off Friday marked a likely end to the recent corrective recovery
and a resumption of the bearish theme. This was confirmed yesterday with a print
below the 119.78 support, Jan 30 low. The move lower confirms a resumption of
the downtrend and reinforces a bearish theme that followed the break on Jan 24
of the bull channel base drawn off the Sep 3 low. The breach of 119.78 opens
119.58 and 119.25. Firm resistance is at 121.15.

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