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EURO-YEN TECHS: Recovery Extends
*RES 3: 122.65 High Dec 13 and bull trigger
*RES 2: 122.50 High Dec 27
*RES 1: 122.02 High Jan 2
*PRICE: 121.75 @ 16:05 GMT Jan 10
*SUP 1: 121.13 Low Jan 9
*SUP 2: 120.56 Bull channel base drawn off the Sep 3 low
*SUP 3: 120.17 Low Jan 3, 8 and key support
EURJPY is firmer and breached resistance at 121.45, Jan 7 high on Thursday.
Note, key channel support also continues to hold, despite a test below it in
recent sessions. The channel is drawn off the Sep 3 low and intersects at
120.56. The recovery off recent intraday lows is encouraging for bulls and the
break of 121.45 opens 122.02 next, high Jan 2. Clearance of this level would
expose 121.68, Dec 13 high and the key bull trigger. Key support is at 120.17.