13 May 2002, 11:02  Technical analysis from Commerzbank AG. May 13

www.ecommerzbank.de
Karen Jones


EUR/USD
POSITION: Long .9115, s/r .9095 Target .9240/45
Support .9095, .9036*, .9000/.8995** SL, .8925/15**,
Resistance: .9160, .9189*, .9240/45** .9325/35**, .9350**RL
ACTION: Place a stop/reverse below .9095 and add above .9160 looking for .9189 then .9240/45 where would cover. Reinstate on a break for .9335/50 where would reverse all longs— tight stop/ reverse.

USD/CHF
POSITION: Short 1.5965, s/r 1.6000 Target 1.5700/1.5675
Support 1.5830/20** 1.5745, 1.5680/75** 1.5590*,1.5550/20**
Resistance 1.6100*, 1.6165**RL, 1.6215/25**, 1.6300, 1.6335**, 1.6440**,
ACTION: Place a stop over 1.6000. Add below 1.5820 looking for 1.5700/1.5675 where would cover. Reinstate on a break for 1.5550/20 where would partially cover shorts, looking to reverse the remainder 1.5500/1.5470 — stop/reverse below 1.5450.

GBP/USD
POSITION: Long 1.4545, s/r 1.4545 Target 1.4840
Support 1.4545** UPTR, 1.4430/25*, 1.4360**, 1 . 4 2 9 0 / 8 5 * *
Resistance 1.4710, 1.4740**, 1.4800/40**, 1.4965, 1.5020,
ACTION: Raise the stop/reverse below 1.4545. Add above 1.4740 looking for 1.4840 to cover. Reinstate on a break for 1.5085/1.5105.

USD/JPY
POSITION: Short 127.55, s/r 128.15 Target 126.60/35
Support 126.75, 126.60/35**, 125.65/45**, 123.60, 123.35**, 122.70/50**,
Resistance 128.15, 129.05, 129.45/55**DT, 130.65**, 131.70*,
ACTION: Add on rallies to 127.95 and place the stop/reverse over 128.15. Add below 127.20 looking for 126.60/35 where would cover. Reinstate on a break for 125.50/45 then 122.70 where all shorts would be reversed— stop/reverse below 122.20.

EUR/JPY
POSITION: Long 116.60, s/r 115.90 Target 117.50/95
Support: 1 1 6 . 0 0 / 1 1 5 . 9 0 * , 115.10, 114.50/30**, uptr,
Resistance: 117.50/65*, 117.95**, 119.15*, 119.70** 120.00*, 121.65**,
ACTION: Leave the stop/reverse below .6190. Reverse longs on rallies to .6265/70, stop/reverse over .6285.

EUR/CHF
POSITION: Long 1.4545, s/r 1.4520 Target 1.4670.
Support 1 . 4 5 3 0 / 2 0 * , 1.4469**SL 1.4430/20
Resistance 1.4605*, 1.4645, 1.4669**RL, 1.4710**, 1.4740/5*, 1.4790,
ACTION: Leave the stop/reverse below 1.4520. Add above 1.4605 looking for 1.4665/70 where would reverse longs— stop/reverse over 1.4685.

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