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

EURO-YEN TECHS
EURO-YEN TECHS: Downtrend remains 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: 117.39 @ 04:34 GMT Aug 29
*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 is quiet following fresh low print at 116.57 Monday. This confirmed a
resumption of the downtrend with price sequence of lower lows and lower highs
intact. The bearish outlook holds despite Monday's bounce, which in candle terms
resulted in a piercing pattern and may be an early reversal signal, although
needs additional confirmation. 118.48 is resistance and while this holds, the
focus is on 116.00. Further out, the Apr 2017 low 114.85 is likely to attract.

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