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Bearish Risk Still Present *RES 4:...>

EURO-YEN TECHS
EURO-YEN TECHS: Bearish Risk Still Present
*RES 4: 126.07 High Apr 22, 2019
*RES 3: 125.96 50% retracement of the 2018 - 2020 sell-off
*RES 2: 124.43 High Jun 5 and the bull trigger
*RES 1: 122.61 High Jun 9
*PRICE: 122.08 @ 19:47 BST Jun 10
*SUP 1: 121.34/15 Low Jun 9 / High Mar 25
*SUP 2: 120.61 38.2% retracement of the May - Jun rally
*SUP 3: 119.98 20-day EMA
*SUP 4: 119.62 Low Jun 2
EURJPY did manage a bounce off the Tuesday low but for now remains vulnerable.
Price action Monday in candle terms completed a 3-day reversal known as an
evening star. This suggests sentiment has reversed to bearish and signals a top
at Friday's high of 124.43. If correct, the risk is for further weakness and a
correction of the recent sharp rally. The focus is on 121.15 and 120.61 next. A
break above 124.43 is needed to resume the uptrend.

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