Probes A Key Retracement Level.......>

EURO-YEN TECHS: Probes A Key Retracement Level

*RES 4: 118.82 High Apr 13

*RES 3: 118.04 50-day EMA

*RES 2: 117.78 High Apr 30 and bull trigger

*RES 1: 117.31 High May 4

*PRICE: 116.26 @ 06:09 BST May 5

*SUP 1: 116.20 Intraday low

*SUP 2: 115.45 Low Apr 29 and key support

*SUP 3: 115.37 0.765 projection of Mar 25 - Apr 2 decline from Apr 7 high

*SUP 4: 115.00 Round number support

A sharp rally in EURJPY Thursday saw the cross trade to 117.78. This move

signals a potential reversal. However, the cross has started the week on the

back foot and importantly yesterday and today has probed 116.34, 61.8% of the

Apr 29-30 rally. A continued move lower would threaten last week's strong bounce

and expose key support at 115.45, Apr 29 low. Key resistance and the bull

trigger is unchanged at 117.78, Apr 30 high.