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Approaching bear trigger: *RES 4:....>

EURO-YEN TECHS: Approaching bear trigger:
*RES 4: 120.05 Low Jul 25
*RES 3: 119.68 Upper 1.0% 10-dma envelope
*RES 2: 119.75/88 38.2% retracement of Jul-Aug fall / High Aug 06
*RES 1: 119.59 High Aug 13
*PRICE: 117.82 @ 05:06 GMT Aug 16
*SUP 1: 117.52 Low Aug 12 and bear trigger
*SUP 2: 117.26 Bear channel base drawn off the Apr 17 high
*SUP 3: 117.00 Psychological support
*SUP 4: 116.47/12 Low Apr 21 2017 / Lower 2.0% 10-dma envelope
EURJPY is trading at the lower end of this months range and is back under 118.50
to counter Monday's bullish engulfing reversal pattern, which had signalled a
potential shift in sentiment. The underlying bearish trend remains intact and
the focus is back on the key support and bear trigger at 117.52. A break would
open 117.00. Bulls need to recover 119.59, before challenging the Aug 6 high of
119.88 and the psychological 120.00 level.

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