Mizuho Corporate Bank

Technical Analysis 28 January 2010

JPY
JPY=EBS, Last Quote [Candle], Last Quote [Ichimoku 9, 26, 52, 26] Daily
06Nov09 - 05Mar10
Pr

93.5

93

92.5

92

91.5

91

90.5

90

89.5

89

88.5

88

JPY=EBS , Last Quote, Candle

87.5
28Jan10 89.97 90.40 89.88 90.19
JPY=EBS , Last Quote, Tenkan Sen 9
28Jan10 90.51 87
JPY=EBS , Last Quote, Kijun Sen 26
28Jan10 91.46 86.5
JPY=EBS , Last Quote, Senkou Span(a) 52
04Mar10 90.99
86
JPY=EBS , Last Quote, Senkou Span(b) 52
04Mar10 89.30
JPY=EBS , Last Quote, Chikou Span 26 85.5
24Dec09 90.19
85

09Nov09 16Nov 23Nov 30Nov 07Dec 14Dec 21Dec 28Dec 04Jan 11Jan 18Jan 25Jan 01Feb 08Feb 15Feb 22Feb 01Mar

Comment: Bouncing from 50% Fibonacci retracement support and the top of a relatively thin Ichimoku ‘cloud’.
Now let’s see whether recent highs and the 9-day moving average will cap. We still expect a drop to 61%
retracement (88.25) either this week or early next week.

Strategy: Sell at 90.15; stop above 90.85. Short term target 89.50, eventually 88.50/88.25.
Chart Levels:
Support Resistance Direction of Trade
89.88 90.40
89.71 90.57
89.14 90.78
88.80 91.00*
88.25* 91.46

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.