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Downtrend intact despite bounce:.....>

EURO-YEN TECHS
EURO-YEN TECHS: Downtrend intact despite bounce:
*RES 4: 119.59 High Aug 13
*RES 3: 119.29 High Aug 14
*RES 2: 118.48 High Aug 19
*RES 1: 118.20 Intraday high
*PRICE: 117.75 @ 15:52 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 struck a fresh low at 116.57 Monday. This confirms once again a
resumption of the downtrend with the price sequence of higher highs and higher
lows continuing to dominate. The negative outlook comes despite the intraday
bounce Monday, with 118.48 needed to repair the outlook. To the downside, the
focus is on 116.00 with the trigger for fresh weakness at 116.57. Further out,
the Apr 2017 low 114.85 is likely to attract.

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