Mizuho Corporate Bank

Technical Analysis 11 January 2010

JPY
JPY=EBS, Last Quote [Candle], Last Quote [Ichimoku 9, 26, 52, 26] Daily
01Oct09 - 16Feb10
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
11Jan10 92.42 92.62 92.17 92.24 87
JPY=EBS , Last Quote, Tenkan Sen 9
11Jan10 92.52
86.5
JPY=EBS , Last Quote, Kijun Sen 26
11Jan10 90.57
JPY=EBS , Last Quote, Senkou Span(a) 52 86
15Feb10 91.54
JPY=EBS , Last Quote, Senkou Span(b) 52 85.5
15Feb10 89.30
JPY=EBS , Last Quote, Chikou Span 26
07Dec09 92.24 85

05Oct09 12Oct 19Oct 26Oct 02Nov 09Nov 16Nov 23Nov 30Nov 07Dec 14Dec 21Dec 28Dec 04Jan 11Jan 18Jan 25Jan 01Feb 08Feb 15Feb

Comment: A small ‘spike high’ reversal candle on Friday and a ‘doji’ on the weekly chart suggests the rally is
running out of steam. Now watch for more signs of topping, starting with a break below immediate trendline support
and then a drop below recent interim lows at 91.00.

Strategy: Sell at 92.25, adding to 93.00; stop above 94.00. Short term target 91.25/91.00, then 90.00.
Chart Levels:
Support Resistance Direction of Trade
92.17 92.52
91.50 92.75
91.25 93.00
91.00* 93.22
90.50 93.78*

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.