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Facing Selling Pressure *RES 4:......>

EURO-YEN TECHS
EURO-YEN TECHS: Facing Selling Pressure
*RES 4: 121.83 76.4% retracement Jan 16 - Feb 18 Decline
*RES 3: 121.42 2.0% Upper Bollinger Band
*RES 2: 121.40 High Feb 20
*RES 1: 120.54 Intraday high
*PRICE: 119.63 @ 10:29 GMT Feb 25
*SUP 1: 119.59 61.8% retracement of the Feb 18 - Feb 20 rally
*SUP 2: 119.54 50% of the Feb 19 range
*SUP 3: 118.47 Low Feb 18
*SUP 4: 118.00 3.0% Lower Bollinger Band
EURJPY is softer and extending the pullback that has unfolded following the
rejection off last week's high of 121.40. The next support is seen at 119.59,
61.8% retracement of the rally between Feb 18 and Feb 20 and 119.54, also a
retracement level. A breach of this zone would highlight the potential for a
deeper pullback and expose the key support at 118.47, the Feb 18 low. Gains
above today's high of 120.54 are required to relieve the bearish pressure.

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