Still Heavy! *RES 4: 121.15 High.....>

EURO-YEN TECHS: Still Heavy!

*RES 4: 121.15 High May 5

*RES 3: 120.82 High Feb 7

*RES 2: 120.30 High Feb 12 and key near-term resistance

*RES 1: 119.74 High Feb 13

*PRICE: 119.01 @ 16:37 GMT Feb 14

*SUP 1: 118.87 Intraday low

*SUP 2: 118.73 Low Oct 11

*SUP 3: 118.54 61.8% retracement of the Sep 2019 - Jan 2020 rally

*SUP 4: 118.06 1.00 projection of the Jan 16 - Jan 30 decline from Feb 5 high

EURJPY remains heavy having resumed its downtrend yesterday. The cross earlier

this week cleared former support at 119.78, Jan 30 low to confirm a resumption

of the current downtrend with attention on 118.73 next, the Oct 11 low and

118.54, a Fibonacci retracement. Key near-term resistance has been defined at

120.30, Wednesday's high. A break of this level is required to threaten the

current bearish cycle.