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Either side of 50-dma: *RES 3:.......>

EURO-YEN TECHS
EURO-YEN TECHS: Either side of 50-dma:
*RES 3: 120.86 100-dma
*RES 2: 120.71 High Aug 1
*RES 1: 119.78/120.01 Bear channel resistance / High Sep 13
*PRICE: 118.85 @ 15:53 GMT Sep 16
*SUP 1: 118.69 Intraday low
*SUP 2: 117.56 Low Sep 12
*SUP 3: 117.28 Low Sep 5
EURJPY pushed higher again Friday probing the key bear channel resistance at
119.84, drawn off the Apr 17 high. To confirm the next leg higher, a clear
channel breakout is required and the focus is on Friday's 120.01 high, the
short-term bull trigger. This break failed to materialise Monday, with prices
retreating back below the 119.21 50-dma. Key support lies at Thursday 117.56 low
with initial support at 119.00. A move lower and away for channel resistance
would concern bulls.

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