high of 109.73. The cross-currency declined in parallel with USD/JPY, but is so far holding above its earlier floor of 108.42.
The outlook is slightly bearish, with sell-stops expected below 108.40.

Support: 108.61 (20-day moving average), 108.42 (overnight low), 106.58 (38.2% Fibonacci retracement level of the January 1999-October 2000 downtrend), 106.13 (Feb. 8 low; one-month low), 105.28 (Jan. 4 low; year low), 104.64 (60-day moving average), 99.17 (200-day moving average).
Resistance: 109.73 (overnight high), 109.91 (Feb. 1 high), 112.03 (50% Fibonacci retracement level of the January 1999-October 2000 downtrend), 113.35 (Jan. 15 high; 14 1/2-month high), 116.48 (Oct. 13, 1999, peak).