Holding Onto Gains *RES 4: 119.04....>

EURO-YEN TECHS: Holding Onto Gains

*RES 4: 119.04 High Apr 7

*RES 3: 118.82 High Apr 13

*RES 2: 118.58 61.8% retracement of the Mar 25 - May 6 sell-off

*RES 1: 118.21 Intraday high

*PRICE: 117.96 @ 05:03 BST May 21

*SUP 1: 117.03 Low May 19

*SUP 2: 116.85 High May 12

*SUP 3: 115.30/33 Low May 11 / Low May 14 and key support

*SUP 4: 114.43 Low May 6 and bear trigger

EURJPY rallied sharply higher Tuesday and prices are holding onto gains. The

breach of this level reverses the recent bearish theme and instead signals scope

for a climb towards 118.82, Apr 13 high and 119.04, the Apr 7 high. On the

downside, initial support is at Tuesday's 117.03 low, a break would dent bullish

sentiment following this week's strong impulsive rally. Major support lies at

115.33, the May 14 low.