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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: 122.47 61.8% retracement of the Jun 5 - 22 downleg
*RES 2: 122.12 High Jun 16 and key near-term resistance
*RES 1: 121.97 High Jul 6 and intraday high
*PRICE: 121.56 @ 10:43 BST Jul 9
*SUP 1: 121.14 Low Jul 8
*SUP 2: 120.61 Low Jul 3 and key intraday support
*SUP 3: 120.26 Low Jul 1
*SUP 4: 119.93/81 50-day EMA / Low Jun 26
EURJPY started the day's session on a firm testing Monday's high of 121.97 but
has since retraced the climb. A bullish theme nevertheless remains intact
following the breach on Jun 29 of 121.10, Jun 23 high. The break higher
confirmed a positive price sequence of higher highs and higher lows signalling
scope for a climb towards 122.12 next, Jun 16 high and the next key hurdle for
bulls. On the downside, a move below 120.61 would dent the bullish outlook.

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