Remains vulnerable: *RES 4:..........>

EURO-YEN TECHS: Remains vulnerable:

*RES 4: 123.74/79 High May 21 and 50% retracement of Apr 17-Jun 3 decline

*RES 3: 123.36 High Jul 1

*RES 2: 122.41/47 50-dma / cloud base

*RES 1: 122.32 High Jul 10

*PRICE: 121.76 @ 05:06 GMT Jul 11

*SUP 1: 121.52 Low Jul 7

*SUP 2: 121.32 Low Jul 4

*SUP 3: 120.95 Low Jun 21

*SUP 4: 120.78 Low Jun 3 and major support

EURJPY maintains a bearish tone. Price activity over the past few sessions has

taken on the appearance of a bear flag formation, a continuation pattern.

Today's early sell-off reinforces this. A break of 121.52 would open 121.32

ahead of 120.95 and major support at 120.78. Note that a break of the latter

level, the low of Jun 3 would negate the prospect of a double bottom, and

confirm a resumption of the downtrend opening 120.00. Resistance is at 122.32.