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Heavy! *RES 4: 121.95 200-DMA *RES...>

EURO-YEN TECHS
EURO-YEN TECHS: Heavy!
*RES 4: 121.95 200-DMA
*RES 3: 121.48 High Oct 21
*RES 2: 121.11 High Nov 7
*RES 1: 120.64 High Nov 12
*PRICE: 119.40 @ 18:23 GMT Nov 14
*SUP 1: 119.12 Low Oct 15
*SUP 2: 118.76 61.8% retracement of Oct 3 - Oct 21 rally
*SUP 3: 118.54 Bear channel base drawn off the Sep 3 low
*SUP 4: 118.12 76.4% retracement of Oct 3 - Oct 21 rally
EURJPY continued to weaken Thursday. Prices are extending the downside following
the failure recently to hold above former support at 120.01, Sep 13 high. This
has reinforced the likelihood the cross will remain weaker for now as it pulls
back within its bull channel, drawn off the Sep 3 low of 115.87. Potential is
seen for a move towards 119.12, Oct 15 low. Note the channel base lies at
118.54. Resistance is at 120.64, Tuesday's high.

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