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

EURO-YEN TECHS
EURO-YEN TECHS: Impulsive Rally Intact
*RES 4: 122.10 2.0% 10-dma envelope
*RES 3: 121.83 76.4% Jan - Feb Decline
*RES 2: 121.48 2.0% Upper Bollinger Band
*RES 1: 121.40 High Feb 20
*PRICE: 120.70 @ 06:00 GMT Feb 24
*SUP 1: 120.10 Low Feb 20 and key intraday support
*SUP 2: 119.54 50% of the Feb 19 range
*SUP 3: 118.47 Low Feb 18
*SUP 4: 117.99 3.0% Lower Bollinger Band
EURJPY bulls remain firmly in control. The 50-dma resistance gave way on an
intraday basis Thursday, a close above this average would further cement a
bullish case. Despite the overnight pullback, the outlook remains bullish for
now. Last week's high of 121.40 marks the near-term bull trigger. A break would
open 121.88 and 122.37 next. On the downside, initial support is seen at 120.10,
the Feb 20 low.

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