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Cracks Channel Base Support *RES.....>

EURO-YEN TECHS
EURO-YEN TECHS: Cracks Channel Base Support
*RES 4: 123.75 High May 21, 2019
*RES 3: 123.36 High Jul 1, 2019
*RES 2: 122.87 High Jan 16 and near-term bull trigger
*RES 1: 122.37 High Jan 21 and key near-term resistance
*PRICE: 120.74 @ 16:37 GMT Jan 23
*SUP 1: 120.64 Low Jan 23
*SUP 2: 120.17 Low Jan 3 and 8 and key support
*SUP 3: 119.61 Lower 1.0% 10-dma envelope
*SUP 4: 119.99 Low Dec 9
Bears succeeded in pressuring the pair through the base of its bull channel at
121.01 Thursday, reigniting the downside argument. The fall through here has
opened a revisit of the early January lows, a break below which would switch the
outlook to outright bearish. On the upside, price needs to trade above 122.37,
Jan 21 to ease the bearish pressure and refocus attention on a recovery.

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