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Upside Focus *RES 4: 122.32 High.....>

EURO-YEN TECHS
EURO-YEN TECHS: Upside Focus
*RES 4: 122.32 High Jul 7
*RES 3: 121.52 200-day MA
*RES 2: 121.48 High Oct 21 and bull trigger
*RES 1: 121.02 High Dec 2
*PRICE: 120.60 @ 06:11 GMT Dec 11
*SUP 1: 119.99 Low Dec 9
*SUP 2: 119.58 Low Nov 25
*SUP 3: 119.40/25 Channel base drawn off the Sep 3 low / Low Nov 14
*SUP 4: 118.73 Low Oct 11
EURJPY was firmer Tuesday, keeping the bullish outlook intact. This follows the
recovery in price since Nov 14. Also, the break above 120.69, Nov 18 high is a
positive development and reinforces the importance of the Nov 15 candle pattern,
a bullish engulfing that signalled a turning point at 119.25 on Nov 14. The
focus is on 121.48, Oct 21 high with 121.02, Dec 2 high the first bull trigger.
Initial support is at 119.99, Dec 9 low ahead of 119.58, Nov 25 low.

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