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Key 120.00 support Holds: *RES 3:....>

EURO-YEN TECHS
EURO-YEN TECHS: Key 120.00 support Holds:
*RES 3: 122.32 High Jul 10
*RES 2: 121.85/90 High Jul 15 / 50-dma
*RES 1: 121.38 Intraday high
*PRICE: 121.13 @ 15:19 GMT Jul 25
*SUP 1: 120.05 Intraday low
*SUP 2: 120.00 Psychological round number
*SUP 3: 119.75 3% Lower Bollinger Band
EURJPY based at 120.05 before rallying through 121.00 on President Draghi's less
dovish-than-expected press conference. Despite this, the broader bearish trend
remains intact following the recent break of key support at 120.78 and the
channel base on Jul 18. Momentum studies are pointing south too reinforcing the
current bearish theme. 120.00 holds the next area of support, ahead of the ytd
low of 118.71. Key resistance has been defined at 122.32, the Jul 10 high. The
50-dma at 121.90 offers initial resistance.

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