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Impulsive Rally Extends *RES 4:......>

EURO-YEN TECHS
EURO-YEN TECHS: Impulsive Rally Extends
*RES 4: 121.88 High Jan 23
*RES 3: 121.40 High Feb 20
*RES 2: 121.15 High Mar 25 and key resistance
*RES 1: 120.99.High Mar 27
*PRICE: 120.50 @ 10:50 BST Jun 2
*SUP 1: 119.62 Intraday low
*SUP 2: 118.87 Low May 29
*SUP 3: 117.71 Low May 27
*SUP 4: 117.78/70 20- and 50-day EMA
EURJPY maintains a bullish bias and is extending its impulsive rally. The cross
has recently cleared the 200-dma and closed above it, reinforcing bullish
conditions. The close above the average is the first since late March. With
bulls firmly in control, attention is on the March 25 high of 121.15. A break of
this hurdle would open 121.40, Feb 20 high and beyond. Initial support lies at
119.62. Today's low ahead of Friday's 118.87 low.

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