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Attention Is On 119.41 Support.......>

EURO-YEN TECHS
EURO-YEN TECHS: Attention Is On 119.41 Support
*RES 4: 122.37 High Jan 21
*RES 3: 121.83 76.4% retracement Jan 16 - Feb 18 Decline
*RES 2: 121.40/44 High Feb 20 / 2.0% Upper Bollinger Band
*RES 1: 121.04 High Feb 27
*PRICE: 119.93 @ 10:44 GMT Feb 28
*SUP 1: 119.41 Low Feb 25
*SUP 2: 119.16 76.4% retracement of the Feb 18 - Feb 20 rally
*SUP 3: 118.47 Low Feb 18 and key support
*SUP 4: 117.98 3.0% Lower Bollinger Band
EURJPY traded below key support at the 119.54 mark earlier this week but found
support at 119.41 and for now remains above this level. The near-term outlook is
bearish though and the focus is on 119.41. A break would reinforce a bearish
theme and pave the way for a deeper decline towards the key support at 118.47,
the Feb 18 low. Price needs to trade above 121.04 to instead suggest scope for
near-term recovery.

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