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Remains Heavy Despite Today's........>

EURO-YEN TECHS
EURO-YEN TECHS: Remains Heavy Despite Today's Bounce
*RES 4: 122.61 High Jun 9
*RES 3: 122.12 High Jun 16 and key near-term resistance
*RES 2: 121.23 High Jun 17
*RES 1: 120.54 High Jun 18
*PRICE: 119.93 @ 10:47 BST Jun 22
*SUP 1: 119.31 Intraday low
*SUP 2: 119.02 2.0% 10-dma envelope
*SUP 3: 118.60 Low May 29
*SUP 4: 118.25 61.8% retracement of the rally between May 6 - Jun 5
EURJPY traded to a fresh low Friday and has probed the 200-dma. A bearish focus
remains in place following the reversal off 124.43 on Jun 5 and price action
continues to retrace the strong rally between May 6 and Jun 5. A close below the
200-dma would reinforce the bearish condition and signal scope for weakness
towards 119.04, Apr 7 high. Key near-term resistance is at 122.12, Jun 16 high.

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