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122 tough nut to crack: *RES 4:......>

EURO-YEN TECHS: 122 tough nut to crack:
*RES 4: 123.74 High May 21
*RES 3: 123.17 High Jun 11 and key resistance
*RES 2: 122.45 Trendline resistance drawn off the Aor 17 high
*RES 1: 122.02 June 21 high
*PRICE: 121.91 @ 16:10 GMT June 21
*SUP 1: 120.77 Low Jun 13
*SUP 2: 120.00 Psychological round number
*SUP 3: 119.48 Bear channel base drawn off the Apr 17 high
*SUP 4: 118.83 Low Jan 3
The cross's gradual edge lower overnight was stalled by better-than-expected
Eurozone PMI numbers, with the rest of the session seeing a decent recovery up
to 122.02. A close above the 122 handle is needed here to reverse the recent
trend, with a failure to do so re-opening a test of the 120.77 support. A breach
of this level would confirm a resumption of the downtrend exposing 120.00.

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