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Volatile Swings *RES 4: 120.05.......>

EURO-YEN TECHS
EURO-YEN TECHS: Volatile Swings
*RES 4: 120.05 50-day EMA
*RES 3: 120.00 High Mar 5
*RES 2: 119.49 High Mar 10
*RES 1: 118.87 Intraday high
*PRICE: 118.24 @ 06:01 GMT Mar 13
*SUP 1: 116.89 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 earlier this week, breaking sharply lower as
risk aversion spiked. Tuesday though saw a sharp reversal as JPY came under
pressure and the cross reversed Monday's downleg. The cross was softer again
yesterday is firmer today. Near-term direction is difficult to assess and the
focus is on two important directional triggers. On the upside, watch 119.49, Mar
10 high and on the downside, 116.13, the Mar 9 low.

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