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Clears Key Support *RES 4: 117.78....>

EURO-YEN TECHS
EURO-YEN TECHS: Clears Key Support
*RES 4: 117.78 High Apr 30 and bull trigger
*RES 3: 117.31 High May 4
*RES 2: 116.57 High May 5
*RES 1: 115.75 Intraday high
*PRICE: 115.26 @ 06:10 BST May 6
*SUP 1: 115.11 Intraday low
*SUP 2: 115.00 Round number support
*SUP 3: 114.85 Low Apr 17, 2017
*SUP 4: 114.64 1.236 projection of the Feb 20 - Mar 9 decline from Mar 25
EURJPY has extended this week's sell-off. The cross has cleared an important
support at 115.45, Apr 29 low to negate recent bullish price action and more
importantly confirm a resumption of the primary downtrend. The break lower this
week opens 115.00 next and the Apr 17, 2017 low of 114.85. Further out, scope is
seen for weakness towards 114.64, a Fibonacci projection level. On the upside,
resistance is at 116.57.

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