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Heading North *RES 4: 120.23 Mar.....>

EURO-YEN TECHS
EURO-YEN TECHS: Heading North
*RES 4: 120.23 Mar 30 high
*RES 3: 120.09 2.0% 10-dma envelope
*RES 2: 119.65 61.8% Fibonacci retracement Jan - May sell-off
*RES 1: 119.30/41 200-dma / Intraday high
*PRICE: 119.29 @ 10:50 BST May 29
*SUP 1: 118.40 Low May 28
*SUP 2: 117.71 Low May 27
*SUP 3: 117.00 Low May 22 and key near-term support
*SUP 4: 116.85 High May 12
EURJPY rallied Thursday to a new recovery high and closed above the 100-dma in
the process. The cross has also recovered off the overnight lows to maintain a
bullish focus that remains clearly intact. A positive theme follows this week's
gains that resulted in a break of resistance at 118.52, May 21 high. Attention
is on the 200-dma at 119.30 (tested) and Fibonacci resistance above at 119.65.
Firm support has been defined at 117.00, May 22 low.

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