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EURO-YEN TECHS: 200-dma Key
*RES 4: 121.25 Mar 25 High
*RES 3: 120.23 Mar 30 High
*RES 2: 120.47 2.0% 10-dma envelope
*RES 1: 119.90 May 29 High
*PRICE: 119.71 @ 16:55 BST May 29
*SUP 1: 118.40 Low May 28
*SUP 2: 117.71 Low May 27
*SUP 3: 117.00 Low May 22 and key near-term support
*SUP 4: 116.85 High May 12
The cross went from strength to strength this week, clocking five consecutive
sessions of gains and topping the 200-dma in the process. A close above would be
the first since late March and adds to the bullish outlook. Progress this week
has now opened the late March highs at 120.23 as the next major upside target,
but prices may moderate first before narrowing this gap. Firm support has been
defined at 117.00, May 22 low.