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Focus is on key support at 120.77:...>

EURO-YEN TECHS: Focus is on key support at 120.77:
*RES 4: 123.74 High May 21
*RES 3: 123.17 High Jun 11 and key resistance
*RES 2: 122.45 Trendline resistance drawn off the Aor 17 high
*RES 1: 121.91/121.97 Jun 20 high and 20-day EMA
*PRICE: 121.43 @ 08:40 GMT June 21
*SUP 1: 120.77 Low Jun 13
*SUP 2: 120.00 Psychological round number
*SUP 3: 119.48 Bear channel base drawn off the Apr 17 high
*SUP 4: 118.83 Low Jan 3
The cross's gradual edge lower overnight was stalled by better-than-expected
Eurozone PMI number, but a broader recovery is still lacking. The inability this
week to stage a meaningful recovery maintains the net bearish risk in the cross
and the focus is on key support at 120.77, the June 3 low. A breach of this
level would confirm a resumption of the downtrend exposing 120.00. For today
resistance is at 121.91, yesterday's high and just below the 20-day EMA.

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