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Still Bullish Within Its Channel.....>

EURO-YEN TECHS: Still Bullish Within Its Channel
*RES 4: 123.36 High Jul 1
*RES 3: 123.44 Bull channel top drawn off the Sep 3 low
*RES 2: 122.80 1.382 projection of Sep 3 - Sep 13 rally from Oct 3 low
*RES 1: 122.65 High Dec 13
*PRICE: 121.92 @ 05:57 GMT Dec 19
*SUP 1: 121.46 Low Dec 13
*SUP 2: 121.02 High Dec 2
*SUP 3: 120.76 Low Dec 12
*SUP 4: 120.38 Low Dec 11
EURJPY is holding onto the bulk of its most recent gains and maintains a bullish
outlook. The cross recently cleared key resistance at 121.48, Oct 21 high. This
confirmed a resumption of the uptrend and opens the top of the bull channel at
123.49. The channel is drawn off the Sep 3 low. Given last Friday's sell-off
however, a break of 122.65 is also required to reinforce current bullish
conditions. Support is at 121.46 ahead of 121.02.

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