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Key Near Term Support Situated.......>

EURO-YEN TECHS
EURO-YEN TECHS: Key Near Term Support Situated Between Y127.09-Y126.99
*RES 4: Y128.60 Jun 22 high
*RES 3: Y128.33 Hourly recovery high Jun 22
*RES 2: Y128.05/10 Congestion area Jun 22
*RES 1: Y127.75/85 Hourly resistance
*PRICE: Y127.71 @0808GMT
*SUP 1: Y126.99/09 1% vol band, Jun 21, Jun 20 lows
*SUP 2: Y126.64 Jun 19 low
*SUP 3: Y125.97 76.4% Fibo of Y124.62-Y130.36
*SUP 4: Y125.71 2% volatility band
*COMMENTARY* The recovery from Y126.64 has found it hard to deal with Y128.60
resistance, shy of a test into a stronger area between Y128.93-Y128.95. As a
result, has become overbought in the near term and has now seen a dip below
Y127.65-Y127.39 support. This now puts pressure on the more important
Y127.09-Y126.99 area. Loss will suggest rally is over and focus below Y126.64
will again centre on Y125.97. Meanwhile, Y127.75-Y128.10 becomes resistance.

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