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Pressuring Bull Channel Support......>

EURO-YEN TECHS
EURO-YEN TECHS: Pressuring Bull Channel Support
*RES 4: 122.65 High Dec 13 and bull trigger
*RES 3: 122.50 High Dec 27
*RES 2: 122.02 High Jan 2
*RES 1: 121.38 Intraday high
*PRICE: 120.28 @ 10:50 GMT Jan 3
*SUP 1: 120.27/31 Intraday low / Bull channel base drawn off the Sep 3 low
*SUP 2: 119.99 Low Dec 9
*SUP 3: 119.58 Low Nov 25
*SUP 4: 119.25 Low Nov 14
EURJPY is under pressure this morning as the cross extends the recent sell-off.
Attention is on to the key bull channel support that intersects at 120.31 today
and has been tested this morning. The channel is drawn off the Sep 3 low. A
clear break would strengthen the bearish case and signal scope for a deeper
pullback, opening 119.99 and 119.25, the Dec 9 and Nov 14 highs respectively.
Price action needs to return above 122.02 to relieve the downward pressure.

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