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Deeper Retracement Seen Likely.......>

EURO-YEN TECHS
EURO-YEN TECHS: Deeper Retracement Seen Likely
*RES 4: 125.96 50% retracement of the 2018 - 2020 sell-off
*RES 3: 124.43 High Jun 5 and the bull trigger
*RES 2: 122.61 High Jun 9
*RES 1: 121.95 High Jun 11 and key intraday resistance
*PRICE: 120.95 @ 16:45 BST Jun 15
*SUP 1: 120.26 Low Jun 12
*SUP 2: 119.62 Low Jun 2
*SUP 3: 119.43 50.0% retracement of the May - Jun rally
*SUP 4: 119.03 50-day EMA
EURJPY maintains a bearish tone. Price action at the beginning of last week
completed a 3-day reversal in candle terms known as an evening star. This
signalled that a trend reversal at 124.43, Jun 5 high had occurred. The sell-off
across the week confirmed this warning leaving the cross exposed to a deeper
retracement. Attention is on 119.43 next, a Fibonacci retracement. Resistance is
at 121.95, Jun 11 high.

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