Mizuho Corporate Bank

Technical Analysis 20 January 2010

JPY
JPY=EBS, Last Quote [Candle], Last Quote [Ichimoku 9, 26, 52, 26] Daily
20Oct09 - 26Feb10
Pr

93.5

93

92.5

92

91.5

91

90.5

90

89.5

89

88.5

88

87.5
JPY=EBS , Last Quote, Candle
20Jan10 91.12 91.37 91.07 91.21
JPY=EBS , Last Quote, Tenkan Sen 9 87
20Jan10 92.05
JPY=EBS , Last Quote, Kijun Sen 26 86.5
20Jan10 91.31
JPY=EBS , Last Quote, Senkou Span(a) 52
86
24Feb10 91.68
JPY=EBS , Last Quote, Senkou Span(b) 52
24Feb10 89.30 85.5
JPY=EBS , Last Quote, Chikou Span 26
16Dec09 91.21 85

26Oct09 02Nov 09Nov 16Nov 23Nov 30Nov 07Dec 14Dec 21Dec 28Dec 04Jan 11Jan 18Jan 25Jan 01Feb 08Feb 15Feb 22Feb

Comment: Bouncing from 38% retracement support, as expected, and possibly capped today around the 26-
day moving average. Expect more work between these two points today, keeping in mind that later this month we
expect another drop towards 88.50.

Strategy: Sell at 91.20; stop above 92.05. Short term target 90.60/90.30, then 89.50.
Chart Levels:
Support Resistance Direction of Trade
91.00 91.37
90.60 91.66
90.31* 91.88
90.00 92.05*
89.85 92.45

Produced by London Branch - Nicole Elliott +44-20-7786-2509

The information contained in this paper is based on or derived from information generally available to the public from sources believed to be reliable. No representation or
warranty is made or implied that it is accurate or complete. Any opinions expressed in this paper are subject to change without notice. This paper has been prepared
solely for information purposes and if so decided, for private circulation and does not constitute any solicitation to buy or sell any instrument, or to engage in any trading
strategy.

Charts provided by Reuters.