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Remains Bullish *RES 4: 123.99.......>

EURO-YEN TECHS
EURO-YEN TECHS: Remains Bullish
*RES 4: 123.99 Bull channel top drawn off the Sep 3 low
*RES 3: 122.80 1.382 projection of Sep 3 - Sep 13 rally from Oct 3 low
*RES 2: 122.65 High Dec 13 and bull trigger
*RES 1: 122.50 High Dec 27
*PRICE: 121.86 @ 10:27 GMT Jan 2
*SUP 1: 121.57 Low Dec 27
*SUP 2: 121.06 Low Dec 25 and key near-term support
*SUP 3: 120.76 Low Dec 12
*SUP 4: 120.25 Bull channel base drawn off the Sep 3 low
EURJPY is off recent highs. The cross though remains bullish. The recent
recovery off 121.06, Dec 25 low provided an early indication the corrective
pullback between Dec 13 and Dec 25 had run its course. If correct, this signals
potential for a retest of 122.65, Dec 13 high. Clearance of this level would
open 123.99, the top of the bull channel drawn off the Sep 3 low. A break of
121.06 is required to instead expose the channel base currently at 120.25.

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