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Waiting For A Rally *RES 4: 122.32...>

EURO-YEN TECHS: Waiting For A Rally
*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: 120.20 @ 05:55 GMT Dec 10
*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 is unchanged and softer following Friday's pull back however despite
this, a bullish outlook remains intact. This follows the gradual 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 reversal at 119.25 on Nov 14. The focus is on
121.48, Oct 21 high. Support is at 119.58, Nov 25 low.

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