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EURO-YEN TECHS: Bullish Focus
*RES 4: 120.23 Mar 30 high
*RES 3: 120.09 2.0% 10-dma envelope
*RES 2: 119.65 61.8% Fibonacci retracement Jan - May sell-off
*RES 1: 119.30/40 200-dma / High May 28
*PRICE: 118.94 @ 06:13 BST May 29
*SUP 1: 118.40 Low May 28
*SUP 2: 117.71 Low May 27
*SUP 3: 117.00 Low May 22 and key near-term support
*SUP 4: 116.85 High May 12
EURJPY rallied Thursday to a new recovery high and closed above the 100-dma in
the process. The cross however is trading lower today with the Yen firm during
the Asia session. Nonetheless, a bullish focus remains intact following this
week's gains that also resulted in a break of resistance at 118.52, May 21 high.
Attention is on the 200-dma at 119.30 and Fibonacci resistance above at 119.65.
Firm support has been defined at Friday's 117.00 low.