Sharp Sell-Off Extends *RES 4:.......>

EURO-YEN TECHS: Sharp Sell-Off Extends

*RES 4: 119.04 High Apr 7

*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: 117.15 @ 10:40 BST May 22

*SUP 1: 117.03 Low May 19

*SUP 2: 116.85 High May 12

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

*SUP 4: 114.43 Low May 6 and bear trigger

EURJPY found resistance at yesterday's 118.52 high and remains under pressure

this morning. 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 break

would dent bullish sentiment. Major support is 115.33, May 14 low.