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Heavy And Trading At Multi Year......>

EURO-YEN TECHS
EURO-YEN TECHS: Heavy And Trading At Multi Year Lows
*RES 4: 117.78 High Apr 30 and bull trigger
*RES 3: 117.31 High May 4
*RES 2: 116.57 High May 5
*RES 1: 115.45/75 Low Apr 29 / Intraday high
*PRICE: 114.71 @ 06:10 BST May 7
*SUP 1: 114.43 Low May 6
*SUP 2: 113.87 1382 projection of the Feb 20 - Mar 9 decline from Mar 25
*SUP 3: 113.73 Low Nov 9, 2016
*SUP 4: 113.24 1.500 projection of the Feb 20 - Mar 9 decline from Mar 25
EURJPY yesterday extended this week's sharp sell-off with the cross trading at
levels last seen in Nov 2016. The cross has this week cleared an important
support at 115.45, Apr 29 low to negate recent bullish price action and more
importantly confirm a resumption of the primary downtrend. Scope is seen for
weakness towards 113.87, a Fibonacci projection level next. On the upside,
resistance is at 115.45 and 115.75.

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