Mizuho Corporate Bank

Technical Analysis 29 January 2010

JPY
JPY=EBS, Last Quote [Candle], Last Quote [Ichimoku 9, 26, 52, 26] Daily
29Oct09 - 08Mar10
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

29Jan10 89.90 90.06 89.57 89.94
JPY=EBS , Last Quote, Tenkan Sen 9
29Jan10 90.51 87
JPY=EBS , Last Quote, Kijun Sen 26
29Jan10 91.46 86.5
JPY=EBS , Last Quote, Senkou Span(a) 52
05Mar10 90.99
86
JPY=EBS , Last Quote, Senkou Span(b) 52
05Mar10 89.30
JPY=EBS , Last Quote, Chikou Span 26 85.5
25Dec09 89.94
85

04Nov09 11Nov 18Nov 25Nov 02Dec 09Dec 16Dec 23Dec 30Dec 06Jan 13Jan 20Jan 27Jan 03Feb 10Feb 17Feb 24Feb 03Mar

Comment: Hovering above the 50% Fibonacci retracement support and the top of a relatively thin Ichimoku
‘cloud’. Yesterday the 9-day moving average capped and might well do so again today. Next month we still expect a
drop to 61% retracement (88.25).

Strategy: Sell at 89.95, adding to 90.45; stop above 90.85. Short term target 89.65, eventually 88.50/88.25.
Chart Levels:
Support Resistance Direction of Trade
89.71 90.20
89.57 90.57
89.14/89.00* 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.