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EURO-YEN TECHS: Fades into the Close
*RES 3: 123.75 High May 21, 2019
*RES 2: 123.36 High Jul 1, 2019
*RES 1: 122.87 Intraday high
*PRICE: 122.65 @ 17:12 GMT Jan 16
*SUP 1: 122.19 Low Jan 14
*SUP 2: 121.58 Low Jan 13
*SUP 3: 121.13 Low Jan 9
The pullback on Thursday was largely the due to the EUR, with USDJPY and others
still pointing higher. This helps support the still bullish outlook, despite the
cross fading into the close. A bullish theme follows the recent recovery off the
key channel support that remains intact, despite a test below it between Jan 3 -
Jan 8. The channel is drawn off the Sep 3 low and intersects at 120.76. The
cross topped 122.65, the Dec 13 high. A clear break and close above here would
pave the way for strength towards 123.36, Jul 1 high and 124.50, the bull
channel top. Support is at 122.19, Jan 14 low.