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Watching 120.01 Support *RES 4:......>

EURO-YEN TECHS
EURO-YEN TECHS: Watching 120.01 Support
*RES 4: 122.32 High Jul 10
*RES 3: 122.05 200-DMA
*RES 2: 121.98 Channel top drawn off Sep 3 low
*RES 1: 121.48 High Oct 21
*PRICE: 120.86 @ 18:38 GMT Nov 7
*SUP 1: 120.14/01 Intraday low / High Sep 13 and former breakout level
*SUP 2: 119.75 Low Oct 16
*SUP 3: 119.12 Low Oct 15
*SUP 4: 118.76 61.8% retracement of Oct 3 - Oct 21 rally
EURJPY has been somewhat volatile today trading to a low of 120.14. The failure
to clear resistance last week at 121.48 still suggests the cross remains
vulnerable near-term to a retracement / correction lower within its bull channel
drawn off Sep 3 low. The cross stalled at the channel top mid-Oct. Weakness
would expose the 120.01 support and open 119.12. Clearance of 121.48 is needed
to resume the uptrend.

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