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Volatile, But Off Recent Low *RES....>

EURO-YEN TECHS
EURO-YEN TECHS: Volatile, But Off Recent Low
*RES 4: 120.95 High Mar 3
*RES 3: 120.19 50-day EMA
*RES 2: 120.00 High Mar 5
*RES 1: 119.23/24 High Mar 9 / Intraday high
*PRICE: 117.87 @ 16:55 GMT Mar 10
*SUP 1: 116.81 Intraday low
*SUP 2: 116.13 Low Mar 9 / Sep 4
*SUP 3: 115.87 Low Sep 3 and major support
*SUP 4: 115.32 1.382 projection of Jan 16 - Feb 18 move from Feb 20 high
EURJPY resumed its bearish theme Monday, breaking sharply lower as risk aversion
spiked once again. Tuesday initially saw a sharp reversal as JPY came under
pressure, but much of this was reversed ahead of the close. Attention shifts to
resistance at the 119.23 level, the Monday high that was tested overnight. A
break would signal scope for gains towards 120.00 initially, Mar 5 high. Key
support has been defined at Monday's 116.13 low.

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