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EURO-YEN TECHS: Corrective Pullback
*RES 4: 124.70 Bull channel top drawn off the Sep 3 low
*RES 3: 123.75 High May 21, 2019
*RES 2: 123.36 High Jul 1, 2019
*RES 1: 122.87 High Jan 16 and near-term bull trigger
*PRICE: 121.85 @ 17:24 GMT Jan 22
*SUP 1: 121.58 Low Jan 13
*SUP 2: 121.13 Low Jan 9
*SUP 3: 120.96 Bull channel base drawn off the Sep 3 low
*SUP 4: 120.17 Low Jan 3 and 8 and key support
The recent pullback in EURJPY is most likely a correction. The outlook remains
bullish following the recent recovery off the key channel support. The channel
is drawn off the Sep 3 low and currently intersects at 120.96. The recent
rebound off the base resulted in a breach of former resistance at 122.65, the
Dec 13 high. Continued gains above this level would open 123.36, Jul 1 high and
ultimately 124.70 the bull channel top. Support is at 121.58, Jan 13 low.