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

EURO-YEN TECHS
EURO-YEN TECHS: Downtrend Intact
*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: 119.04 @ 05:03 GMT Feb 17
*SUP 1: 118.87 Low Feb 14
*SUP 2: 118.73 Low Oct 11
*SUP 3: 118.54 61.8% retracement of the Sep 2019 - Jan 2020 rally
*SUP 4: 118.06 1.00 projection of the Jan 16 - Jan 30 decline from Feb 5 high
EURJPY struggled last week and remains heavy with bearish trend conditions
clearly intact. The cross last week cleared former support at 119.78, Jan 30 low
to confirm a resumption of the downtrend with attention on 118.73 next, the Oct
11 low and 118.54, a Fibonacci retracement. 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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