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Rallies Within The Bull Channel......>

EURO-YEN TECHS
EURO-YEN TECHS: Rallies Within The Bull Channel
*RES 4: 123.36 High Jul 1
*RES 3: 123.29 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: 122.58 Intraday high
*PRICE: 122.38 @ 06:39 GMT Dec 13
*SUP 1: 121.48 High Oct 21 and former breakout level
*SUP 2: 120.76 Low Dec 12
*SUP 3: 120.38 Low Dec 11
*SUP 4: 119.99 Low Dec 9
EURJPY has rallied sharply over the past 24-hrs and importantly has cleared the
former key resistance at 121.48, Oct 21 high. This has confirmed a resumption of
the uptrend that has been in place since early September setting the scene for a
climb towards the top of the bull channel at 123.29. The channel is drawn off
the Sep 3 low. Momentum studies remain firm reinforcing current bullish
conditions. Initial support lies at 121.48, the recent breakout level.

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