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EURO-YEN TECHS
EURO-YEN TECHS: Holding Above 120.36 Support
*RES 4: 123.36 High Jul 1
*RES 3: 122.16 200-DMA
*RES 2: 121.68 50% retracement of Mar 4 - Sep 3 decline
*RES 1: 121.48/67 High Oct 21 / Bull channel top drawn off Sep 4 low
*PRICE: 120.96 @ 09:58 GMT Oct 30
*SUP 1: 120.36 Low Oct 25
*SUP 2: 120.01 High Sep 13 and former breakout level
*SUP 3: 119.75 Low Oct 16
*SUP 4: 119.12 Low Oct 15
EURJPY is quiet. Attention remains on support at 120.36 and while this level
holds, the near-term outlook is bullish. A broader uptrend remains intact
following the recent break of 120.01, that confirmed a bullish price sequence of
higher highs and higher lows. Note, the cross has recently stalled at the top of
a bull channel drawn off Sep 4 low. This may result in a deeper correction below
120.00. Watch support at 120.36 while the trigger for gains is 121.48/67.

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