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EURO-YEN TECHS: Upside Focus
*RES 4: 121.85 200-DMA
*RES 3: 121.48 High Oct 21 and bull trigger
*RES 2: 121.11 High Nov 7
*RES 1: 120.69 High Nov 18
*PRICE: 120.30 @ 06:00 GMT Nov 19
*SUP 1: 119.72 Low Nov 18
*SUP 2: 119.25 Low Nov 14 and bear trigger
*SUP 3: 118.76 61.8% retracement of Oct 3 - Oct 21 rally
*SUP 4: 118.64 Bear channel base drawn off the Sep 3 low
EURJPY maintains a bullish focus for now following Friday's recovery. The climb
Friday followed a test of an important support at 119.50/40. The firm close that
day near session highs confirmed a strong candle pattern, a bullish engulfing
reversal. This signals the end of the move lower since Oct 21 and places the
cross back in the bull camp. Attention is on resistance at 121.48, Oct 21 high
and the key bull trigger. Support is at 119.25, Nov 14 low.