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

EURO-YEN TECHS
EURO-YEN TECHS: Bearish Risk Still Present
*RES 4: 125.96 50% retracement of the 2018 - 2020 sell-off
*RES 3: 124.43 High Jun 5 and the bull trigger
*RES 2: 122.61 High Jun 9
*RES 1: 122.12 High Jun 16
*PRICE: 120.66 @ 10:38 BST Jun 17
*SUP 1: 120.48 Low Jun 16
*SUP 2: 120.26 Low Jun 12
*SUP 3: 119.62 Low Jun 2
*SUP 4: 119.43 50.0% retracement of the May - Jun rally
EURJPY stalled at yesterday's high of 122.12 and sold off sharply, putting paid
to those hoping the bull trend would imminently resume. Price action at the
beginning of last week completed a 3-day reversal in candle terms known as an
evening star. This signalled a trend reversal. A break of Friday's 120.26 low
would confirm a resumption of this weakness and open 119.62. Resistance to watch
today is at 122.12.

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