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Outlook improves: *RES 4: 119.88.....>

EURO-YEN TECHS
EURO-YEN TECHS: Outlook improves:
*RES 4: 119.88 High Aug 6
*RES 3: 119.64/66 50-dma / 2.0% 10-dma envelope/
*RES 2: 119.59 High Aug 13
*RES 1: 118.61 High Sep 5
*PRICE: 117.91 @ 18:04 BST Sep 6
*SUP 1: 117.28 Low Sep 5
*SUP 2: 116.13/115.87 Low Sep 4 / Low Sep 3
*SUP 3: 115.02 1.382 projection of Apr 17 - Jun 3 decline from Jul 1 high
*SUP 4: 114.85/97 Low Apr 2017/2.0% 10-dma envelope
EURJPY extended the week's reversal Thursday, firming the upside argument. In
terms of some initial positive signs for bulls, Wednesday's candle pattern is a
bullish engulfing and yesterday's gains reinforce the importance of the pattern.
Furthermore, the existence of bullish divergence between price and momentum adds
weight to the potential for a recovery. A move above yesterday's high would open
119.59/88. Key support and the bear trigger lies at 115.87.

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