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Bears on the back foot (for now):....>

EURO-YEN TECHS
EURO-YEN TECHS: Bears on the back foot (for now):
*RES 4: 118.48 High Aug 19
*RES 3: 118.44 1.0% 10-dma envelope
*RES 2: 118.20 High Aug 26
*RES 1: 117.94 High Aug 29 and key near-term resistance
*PRICE: 117.21 @ 16:18 GMT Sep 4
*SUP 1: 115.87 Low Sep 3
*SUP 2: 115.02 1.382 projection of Apr 17 - Jun 3 decline from Jul 1 high
*SUP 3: 115.00 Psychological support & 2.0% 10-dma envelope
*SUP 4: 114.85 Low Apr 2017
The cross is staged a decent intraday reversal in European hours, which carried
through into the US close, but has some work to do to break the clear
longer-term downtrend. Directional technical indicators still point south,
suggesting a strong likelihood bearish activity will extend below 116.00. The
focus is on the 115.02 Fibonacci projection and the the Apr 2017 low 114.85.
Resistance is at 117.94.

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