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

EURO-YEN TECHS
EURO-YEN TECHS: Downtrend intact:
*RES 4: 119.59 High Aug 13
*RES 3: 119.29 High Aug 14
*RES 2: 118.48 High Aug 19 and key near-term resistance
*RES 1: 118.20 High Aug 26
*PRICE: 117.30 @ 04:32 GMT Aug 28
*SUP 1: 116.57 Low Aug 26 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 confirmed a resumption of the
downtrend with the price sequence of lower lows and lower highs continuing to
dominate. The bearish outlook comes despite the intraday bounce Monday which is
still being retraced. 118.48 marks resistance and while this holds, 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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