Mizuho Corporate Bank

Technical Analysis 15 January 2010

JPY
JPY=EBS, Last Quote [Candle], Last Quote [Ichimoku 9, 26, 52, 26] Daily
15Oct09 - 23Feb10
Pr
94

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
15Jan10 91.20 91.33 90.92 91.03
JPY=EBS , Last Quote, Tenkan Sen 9 87
15Jan10 92.26
JPY=EBS , Last Quote, Kijun Sen 26 86.5
15Jan10 90.98
JPY=EBS , Last Quote, Senkou Span(a) 52 86
19Feb10 91.62
JPY=EBS , Last Quote, Senkou Span(b) 52 85.5
19Feb10 89.30
JPY=EBS , Last Quote, Chikou Span 26
11Dec09 91.03 85

20Oct09 27Oct 03Nov 10Nov 17Nov 24Nov 01Dec 08Dec 15Dec 22Dec 29Dec 05Jan 12Jan 19Jan 26Jan 02Feb 09Feb 16Feb

Comment: Consolidating around the lower levels of the last three weeks, testing the 26-day moving average
at 90.98 today, and below the 9-day one. Expect more of the same this morning prior to another drop late today. A
weekly close clearly below 91.00 should turn momentum bearish.

Strategy: Sell at 91.05, adding to 91.50; stop above 92.05. Short term target 90.90, then 90.00.
Chart Levels:
Support Resistance Direction of Trade
90.90 91.33
90.73* 91.56
90.35 92.05*
90.00 92.65
89.50 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.