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Downtrend extends: *RES 4: 119.59....>

EURO-YEN TECHS
EURO-YEN TECHS: Downtrend extends:
*RES 4: 119.59 High Aug 13
*RES 3: 119.29 High Aug 14
*RES 2: 118.48 High Aug 19
*RES 1: 117.78 Intraday high
*PRICE: 117.27 @ 05:19 GMT Aug 26
*SUP 1: 116.57 Intraday and YTD low
*SUP 2: 116.00 Psychological support
*SUP 3: 115.02 1.382 projection of Apr 17 - Jun 3 decline from Jul 1 high
*SUP 4: 114.85 Low Apr 17 2017
EURJPY has extended its decline overnight to a low of 116.57. This confirms once
again a resumption of the downtrend with the price sequence of higher highs and
higher lows continuing to dominate. The focus is now on the 116.00 psychological
level with the trigger for fresh weakness at 116.57. Further out, the Apr 2017
low 114.85 is likely to attract. On the upside, resistance is at 118.48, the Aug
19 high.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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