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Downtrend Firms *RES 4: 121.15.......>

EURO-YEN TECHS
EURO-YEN TECHS: Downtrend Firms
*RES 4: 121.15 High May 5
*RES 3: 120.82 High Feb 7
*RES 2: 120.30 High Feb 12 and key near-term resistance
*RES 1: 119.74 High Feb 13
*PRICE: 118.75 @ 17:24 GMT Feb 18
*SUP 1: 118.47 Low Feb 18
*SUP 2: 118.06 1.00 projection of the Jan 16 - Jan 30 decline from Feb 5 high
*SUP 3: 117.84 3.0% Lower Bollinger Band
*SUP 4: 117.30 2.0% 10-dma envelope
After struggling last week, the cross broke lower still Tuesday and remains
heavy. The cross has now fallen through 118.73, the Oct 11 low, adding to the
bearish case. This opens a protracted move lower, with 118.06 and 117.84 the
targets. Key near-term resistance has been defined at 120.30, Feb 12 high. A
break of this level is required to threaten the current bearish cycle.

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