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Move above 122.47 required to........>

EURO-YEN TECHS
EURO-YEN TECHS: Move above 122.47 required to confirm breach of trendline:
*RES 4: 123.74 High May 21
*RES 3: 123.18 High Jun 11
*RES 2: 123.08 38.2% Fibonacci retracement of the Apr 17-Jun 3 decline
*RES 1: 122.25/47 Trendline resistance drawn off the Apr 17 high and high Jun 25
*PRICE: 122.07 @ 08:48 GMT June 26
*SUP 1: 121.87/74 100-hma/200-hma
*SUP 2: 120.95 Low Jun 21
*SUP 3: 120.89 2% Lower Bollinger band
EURJPY traded through but failed to close above key trendline resistance
yesterday which is a concern for bulls. A further pullback in prices would open
120.95 and the key support at 120.78, the May 6 low. Support from the 100 &
200-hmas however need to be cleared initially before any acceleration lower in
the pair. Tuesday's 122.47 high marks key resistance, a break would remove any
bearish threats and confirm a breach of the trendline while also reinforcing the
Jun 21 bullish engulfing pattern.

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