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120.79 in view: *RES 4: 123.74.......>

EURO-YEN TECHS
EURO-YEN TECHS: 120.79 in view:
*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: 122.27 20-day EMA
*PRICE: 121.20 @ 08:33 GMT June 18
*SUP 1: 121.53 Low Jun 17
*SUP 2: 121.33 76.4% retracement of 120.76-123.17 rally
*SUP 3: 120.76 Low Jun 3
*SUP 4: 120.00 Psychological round number
Draghi's jawboning sent the cross through this week and last week's lows,
bringing the June 3 low into view at 120.79. Underlying trend conditions overall
remain bearish so the risk at this stage is still skewed to the downside.
Yesterday's rejection off the day's high also highlights the bearish threat in
the cross. The break of 121.53 opens immediate support at 121.22 ahead of
120.76.

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