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Pierces 120.63 Resistance *RES 3:....>

EURO-YEN TECHS
EURO-YEN TECHS: Pierces 120.63 Resistance
*RES 3: 121.48 High Oct 21 and bull trigger
*RES 2: 121.11 High Nov 7
*RES 1: 120.76 High Nov 29
*PRICE: 120.63 @ 17:01 GMT Nov 29
*SUP 1: 119.58 Low Nov 25
*SUP 2: 119.25 Low Nov 14 and bear trigger
*SUP 3: 119.05 Bear channel base drawn off the Sep 3 low
EURJPY has edged higher this week and maintains a bullish focus. The Nov 15
candle pattern, a bullish engulfing reversal that followed a test of important
support at 119.50/40 is still seen as a significant bullish development. It
signals the end of the move lower since Oct 21 and places the cross back in a
bull camp. This weeks recovery is encouraging, especially with prices showing
above the 120.63 resistance, which opens 121.48, Oct 21 high. Support lies at
119.25.

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