Sharp Sell-Off Extends Further.......>

EURO-YEN TECHS: Sharp Sell-Off Extends Further

*RES 3: 118.82 High Apr 13

*RES 2: 118.58 61.8% retracement of the Mar 25 - May 6 sell-off

*RES 1: 118.52 High May 21

*PRICE: 117.14 @ 16:43 BST May 22

*SUP 1: 117.00 Low May 22

*SUP 2: 116.85 High May 12

*SUP 3: 115.30/33 Low May 11 / Low May 14 and key support

EURJPY found resistance at Thursday's 118.52 high and remained under pressure

into the Friday close. The pullback is still being considered a correction

though with a bullish outlook intact. The cross rallied Tuesday and this week

breached 117.78, Apr 30 high reversing the recent bearish tone. This opens

118.82, Apr 13 high and 119.04, the Apr 7 high. Initial support is Tuesday's

117.03 low, a close below would dent bullish sentiment. Major support is 115.33,

May 14 low.