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Still Bullish Within The Channel.....>

EURO-YEN TECHS
EURO-YEN TECHS: Still Bullish Within The 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: 121.88 @ 16:56 GMT Dec 18
*SUP 1: 121.02 High Dec 2
*SUP 2: 120.76 Low Dec 12
*SUP 3: 120.38 Low Dec 11
*SUP 4: 119.99/70 Low Dec 9 / Bull channel base drawn off the Sep 3 low
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
123.44. The channel is drawn off the Sep 3 low. Given Friday's sell-off however,
a break of 122.65 is also required to reinforce current bullish conditions.
Support is at 121.02 ahead of 120.76.

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