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Strong Rebound Off Yesterday's Low...>

EURO-YEN TECHS
EURO-YEN TECHS: Strong Rebound Off Yesterday's Low
*RES 4: 122.61 High Jun 9
*RES 3: 122.12 High Jun 16 and key near-term resistance
*RES 2: 121.23 High Jun 17
*RES 1: 120.89 Intraday high
*PRICE: 120.71 @ 06:06 BST Jun 23
*SUP 1: 119.31 Low Jun 22
*SUP 2: 118.60 Low May 29
*SUP 3: 118.39 2.0% 10-dma envelope
*SUP 4: 118.25 61.8% retracement of the rally between May 6 - Jun 5
EURJPY found support yesterday and has defined a near-term base at 1.1931, low
Jun 22. If yesterday's recovery marks the end of the recent move lower, price
action will need to hold above yesterday's low. Gains would pave the way for a
climb towards 1.2212, Jun 16 high and the next key hurdle for bulls. A move
below 1.1931 would reinstate the recent bearish pressure and open 1.1825.

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