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Outlook Remains Bullish Within The...>

EURO-YEN TECHS: Outlook Remains Bullish Within The Channel
*RES 4: 123.36 High Jul 1
*RES 3: 123.39 Bull channel top drawn off the Sep 3 low
*RES 2: 122.80 1.382 projection of Sep 3 - Sep 13 rally from Oct 3 low
*RES 1: 122.65 High Dec 13
*PRICE: 122.26 @ 10:37 GMT Dec 17
*SUP 1: 121.02 High Dec 2
*SUP 2: 120.76 Low Dec 12
*SUP 3: 120.38 Low Dec 11
*SUP 4: 119.99 Low Dec 9
EURJPY maintains a bullish outlook having rallied rallied last week. The cross
cleared key resistance last week at 121.48, Oct 21 high. This confirmed a
resumption of the uptrend and opens the top of the bull channel at 123.39. The
channel is drawn off the Sep 3 low. Given Friday's sell-off however, a break of
122.65 is also required to reinforce current bullish conditions. Support is at
121.02 ahead of 120.76.

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