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

EURO-YEN TECHS
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: 118.37 Intraday high
*PRICE: 118.21 @ 10:44 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 117.78 this week, A|pr 30 high 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.

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