Strong Rebound *RES 4: 118.82 High...>

EURO-YEN TECHS: Strong Rebound

*RES 4: 118.82 High Apr 13

*RES 3: 117.94 High Apr 14

*RES 2: 117.78 High Apr 30 and bull trigger

*RES 1: 117.35 Intraday high

*PRICE: 117.16 @ 06:10 BST May 19

*SUP 1: 116.85 High May 12

*SUP 2: 115.30/33 Low May 11 / Low May 14

*SUP 3: 114.43 Low May 6 and bear trigger

*SUP 4: 113.87 1.382 projection of the Feb 20 - Mar 9 decline from Mar 25

EURJPY rallied sharply higher Monday breaking above resistance at 116.85, May 12

high. The break shifts attention towards the key resistance and bull trigger at

117.78, Apr 30 high. A move beyond 117.78 would reverse the recent bearish theme

and signal scope for gains towards 118.82, Apr 13 high. On the downside, a

return below last week's low of 115.33 is required to reinstate a bearish

threat. This would open 114.43, May 6 low.