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Heavy below 120.00: *RES 4: 120.05...>

EURO-YEN TECHS: Heavy below 120.00:
*RES 4: 120.05 Low Jul 25
*RES 3: 119.69/75 21-dma / Upper 1.0% 10-dma envelope
*RES 2: 119.75/88 38.2% retracement of Jul-Aug fall / High Aug 06
*RES 1: 119.59 High Aug 13
*PRICE: 118.02 @ 04:40 GMT Aug 15
*SUP 1: 117.69 Pullback low off 119.59
*SUP 2: 117.52 Low Aug 12 and bear trigger
*SUP 3: 117.00 Psychological support
*SUP 4: 116.47/33 Low Apr 21 2017 / Lower 2.0% 10-dma envelope
Risk-off returned after the US yield curve inverted for the first time since
2007. Sharp falls in global equities pressured EURJPY back under 118.50 to
counter Monday's bullish engulfing reversal pattern, which signalled a potential
shift in sentiment. The bearish trend remains intact with key support and bear
trigger at 117.52. A break would open 117.00. Bulls need to recover 119.59,
before challenging the Aug 6 high and psychological 120.00 level.

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