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Evening Star Reversal *RES 4:........>

EURO-YEN TECHS
EURO-YEN TECHS: Evening Star Reversal
*RES 4: 126.07 High Apr 22, 2019
*RES 3: 125.96 50% retracement of the 2018 - 2020 sell-off
*RES 2: 124.43 High Jun 5 and the bull trigger
*RES 1: 122.61 Intraday high
*PRICE: 122.15 @ 16:47 BST Jun 9
*SUP 1: 121.15 High Mar 25
*SUP 2: 120.61 38.2% retracement of the May - Jun rally
*SUP 3: 119.75 20-day EMA
*SUP 4: 119.62 Low Jun 2
EURJPY traded lower Tuesday, extending the sell-off from the beginning of the
week. Price action Monday in candle terms completes a 3-day reversal known as an
evening star. This suggests sentiment has reversed to bearish. It also signals a
top at Friday's high of 124.43. If correct, the risk is for further weakness and
a correction of the recent sharp rally. The focus is on 121.15 and 120.61 next.
A break above 124.43 would negate the candle pattern and resume recent gains.

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