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Corrective pullback: *RES 4:.........>

EURO-YEN TECHS
EURO-YEN TECHS: Corrective pullback:
*RES 4: 120.05 Low Jul 25
*RES 3: 119.86/89 Upper 21-dma / 1.0% 10-dma envelope
*RES 2: 119.75/88 38.2% retracement of Jul-Aug fall / High Aug 06
*RES 1: 119.59 High Aug 13
*PRICE: 117.86 @ 15:16 GMT Aug 14
*SUP 1: 117.69 Pullback low off 119.59
*SUP 2: 117.52 Low Aug 12 and bear trigger
*SUP 3: 117.00 Psychological support
*SUP 4: 116.47/33 Low Apr 21 2017 / Lower 2.0% 10-dma envelope
Risk-off returned after the US yield curve inverted for the first time since
2007. Sharp falls in global equities pressured EURJPY back under 118.50 to
counter yesterday's bullish engulfing reversal pattern, which signalled a
potential shift in sentiment. The bearish trend remains intact with key support
and bear trigger at 117.52. Bulls need to recover 119.59, before challenging the
Aug 6 high and psychological 120.00 level.

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