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Needle Still Points North *RES 4:....>

EURO-YEN TECHS
EURO-YEN TECHS: Needle Still Points North
*RES 4: 122.61 High Jun 9
*RES 3: 122.12 High Jun 16 and key near-term resistance
*RES 2: 121.63 1.0% 10-dma envelope
*RES 1: 121.48 High Jul 1
*PRICE: 121.28 @ 10:41 BST Jul 2
*SUP 1: 120.26 Low Jul 1
*SUP 2: 119.81 Low Jun 26
*SUP 3: 119.31 Low Jun 22 and the bear trigger
*SUP 4: 118.60 Low May 29
EURJPY has maintained a firmer note so far this week but did stall at 121.48
Wednesday. A bullish theme remains intact though following Monday's breach of
resistance at 121.10, Jun 23 high. The break higher confirmed a positive price
sequence of higher highs and higher lows. Attention is on 122.12 next, Jun 16
high and the next key hurdle for bulls. On the downside, a move below 119.81,
Jun 26 low would dent the bullish theme.

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