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120.78 still the focus: *RES 4:......>

EURO-YEN TECHS: 120.78 still the focus:
*RES 4: 123.74 High May 21
*RES 3: 123.17 High Jun 11 and key resistance
*RES 2: 122.56 High Jun 13
*RES 1: 122.07 20-day EMA
*PRICE: 121.27 @ 04:55 GMT June 19
*SUP 1: 121.07 Low Jun 18
*SUP 2: 121.03 2.0% Lower Bollinger Band
*SUP 3: 120.78 Low Jun 3
*SUP 4: 120.00 Psychological round number
EURJPY has established a consolidative tone for now. Underlying trend conditions
overall remain bearish so the risk at this stage is still skewed to the downside
with bearish targets in close proximity at 120.78. A breach of this level would
signal another downleg for EURJPY confirming a resumption of the downtrend.
Initial resistance comes in at the 122.07 level.

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