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EURO-YEN TECHS: Stalls Ahead Of 121.48 Resistance
*RES 4: 123.36 High Jul 1
*RES 3: 122.15 200-DMA
*RES 2: 121.68/72 50% of Mar 4 - Sep 3 decline / Channel top drawn off Sep 4 low
*RES 1: 121.48 High Oct 21
*PRICE: 120.96 @ 09:56 GMT Oct 31
*SUP 1: 120.36 Low Oct 25 and key short-term support
*SUP 2: 120.01 High Sep 13 and former breakout level
*SUP 3: 119.75 Low Oct 16
*SUP 4: 119.12 Low Oct 15
EURJPY is under pressure this morning. The cross did trade higher yesterday
closing in on 121.48. A break of this Oct 21 high would confirm a resumption of
the uptrend in place since Sep 3 and expose the 200-DMA at 122.15. Clearance of
the MA and a close above it would open 123.36, Jul 1 high. The cross still
remains below it channel resistance drawn off Sep 3 low. Sub 120.36 levels, Oct
25 low would signal scope for a deeper sell-off within the channel.