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Approaches key trendline.............>

EURO-YEN TECHS
EURO-YEN TECHS: Approaches key trendline resistance:
*RES 4: 123.75 High May 21
*RES 3: 123.18 High Jun 11 and key resistance
*RES 2: 123.81 38.2% Fibonacci retracement of the Apr 17-Jun 3 decline
*RES 1: 122.34 Trendline resistance drawn off the Apr 17 high
*PRICE: 122.24 @ 05:13 GMT June 24
*SUP 1: 121.96 Intraday low
*SUP 2: 120.95 Low Jun 21
*SUP 3: 120.76 Low Jun 13
*SUP 4: 120.00 Psychological round number
EURJPY pushed higher overnight. The cross is trading just ahead of trendline
resistance at 122.34. A breach of this line and more importantly a daily close
above it would mark an important bullish development and pave the way for fresh
short-term upside. Note too that Friday's price action is a confirmed bullish
engulfing reversal candle pattern, reinforcing the current developing bullish
theme. Key for bulls will be whether the cross breaches the trendline.

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