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Bullish But Overbought *RES 3:.......>

EURO-YEN TECHS
EURO-YEN TECHS: Bullish But Overbought
*RES 3: 125.88/96 Upper Bollinger Band / 50% 2018 - 2020 sell-off
*RES 2: 125.00 Round number resistance
*RES 1: 124.43 High Jun 5
*PRICE: 122.51 @ 16:58 BST Jun 8
*SUP 1: 122.07 23.6% May - June rally
*SUP 2: 121.85 Low Jun 4
*SUP 3: 121.27 Low Jun 3
EURJPY maintains a bullish tone following last week's strong impulsive rally
that resulted in a break of 122.87, Jan 16 high and the former YTD high.
Momentum conditions are overbought however and the current uptrend is steep,
suggesting further gains may be hard fought. A deeper pullback would signal the
start of a correction with initial firm support at 122.07, the first Fib
retracement from the recent rally. A move higher once again though would open
the 125.00 and potentially beyond.

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