Pressuring Key Resistance *RES 4:....>

EURO-YEN TECHS: Pressuring Key Resistance

*RES 4: 118.82 High Apr 13

*RES 3: 118.58 61.8% retracement of the Mar 25 - May 6 sell-off

*RES 2: 117.94 High Apr 14

*RES 1: 117.78/83 High Apr 30 and bull trigger / Intraday high

*PRICE: 117.83 @ 10:41 BST May 19

*SUP 1: 117.03 Intraday

*SUP 2: 116.85 High May 12

*SUP 3: 115.30/33 Low May 11 / Low May 14

*SUP 4: 114.43 Low May 6 and bear trigger

EURJPY rallied sharply higher Monday breaking above resistance at 116.85, May 12

high and is currently maintaining the upside pressure. The break higher shifts

attention towards the key resistance and bull trigger at 117.78, Apr 30 high. A

move beyond this level would reverse the recent bearish theme and signal scope

for gains towards 118.82, Apr 13 high. On the downside, initial support lies at

117.03, yesterday's low. Key support lies at last week's 115.33 low.