Mizuho Corporate Bank

Technical Analysis 03 August 2010

EUR/JPY
EURJPY=EBS, Last Quote [Candle], Last Quote [Ichimoku 9, 26, 52, 26] Daily
05May10 - 08Sep10
Pr
EURJPY=EBS , Last Quote, Candle
123
03Aug10 114.00 114.14 113.58 113.78
EURJPY=EBS , Last Quote, Tenkan Sen 9
03Aug10 112.38 122
EURJPY=EBS , Last Quote, Kijun Sen 26
03Aug10 111.02
121
EURJPY=EBS , Last Quote, Senkou Span(a) 52
07Sep10 111.70
EURJPY=EBS , Last Quote, Senkou Span(b) 52 120
07Sep10 111.02
EURJPY=EBS , Last Quote, Chikou Span 26
29Jun10 113.78 119

118

117

116

115

114

113

112

111

110

109

108

10May10 17May 24May 31May 07Jun 14Jun 21Jun 28Jun 05Jul 12Jul 19Jul 26Jul 02Aug 09Aug 16Aug 23Aug 30Aug 06Sep

Comment: Some are getting excited about a potential break above 114.50, the highest levels since May, and
the potential bullish implications for stock markets were this to be the case. We are not so sure about either of these
two ideas. Probably best to assume broadly sideways moves for yen crosses over the coming month.

Strategy: Attempt small shorts at 113.65/114.00; stop above 114.75. First target 112.70, probably 112.00.
Chart Levels:
Support Resistance Direction of Trade
113.20 114.25
112.70 114.75*
112.00 115.00
111.00 115.50
110.00* 116.85

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.