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Firmer And Holding Above Support.....>

EURO-YEN TECHS
EURO-YEN TECHS: Firmer And Holding Above Support
*RES 4: 122.61 High Jun 9
*RES 3: 122.12 High Jun 16 and key near-term resistance
*RES 2: 121.91 1.0% 10-dma envelope
*RES 1: 121.36 High Jun 29
*PRICE: 121.06 @ 16:55 BST Jun 29
*SUP 1: 119.81 Low Jun 26
*SUP 2: 119.31 Low Jun 22 and the bear trigger
*SUP 3: 118.60 Low May 29
*SUP 4: 118.25 61.8% retracement of the rally between May 6 - Jun 5
EURJPY traded strongly Monday. The cross found support on Jun 22 and defined a
near-term base at 119.31. If the recent move higher marks the end of the recent
drop in the cross, price action will need to hold above 119.31. The recovery
opens 122.12, Jun 16 high and the next key hurdle for bulls. On the downside , a
move below 119.31 would reinstate recent bearish pressure and open 118.25.

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