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Heavy Within Its Channel *RES 4:.....>

EURO-YEN TECHS
EURO-YEN TECHS: Heavy Within Its Channel
*RES 4: 123.75 High May 21, 2019
*RES 3: 123.36 High Jul 1, 2019
*RES 2: 122.87 High Jan 16 and near-term bull trigger
*RES 1: 122.37 High Jan 21 and key near-term resistance
*PRICE: 121.47 @ 10:37 GMT Jan 23
*SUP 1: 121.13 Low Jan 9
*SUP 2: 121.01 Bull channel base drawn off the Sep 3 low
*SUP 3: 120.17 Low Jan 3 and 8 and key support
*SUP 4: 119.99 Low Dec 9
The recent pullback in EURJPY continues to extend. The cross is approaching the
base of its bull channel at 121.01. The channel is drawn off the Sep 3 low.
While the channel holds, the underlying uptrend remains intact however, a break
would undermine this theme and instead signal scope for a deeper reversal. On
the upside, price needs to trade above 122.37, Jan 21 to ease the bearish
pressure and refocus attention on a recovery.

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