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EURO-YEN TECHS: Path of least resistance still lower:
*RES 4: 119.59 High Aug 13
*RES 3: 119.29 High Aug 14
*RES 2: 118.48 High Aug 19 and key near-term resistance
*RES 1: 118.20 High Aug 26
*PRICE: 116.82 @ 15:33 GMT Aug 30
*SUP 1: 116.57 Low Aug 26 and YTD low
*SUP 2: 116.52 1.0% Envelope 10-dma
*SUP 3: 116.00 Psychological support
*SUP 4: 115.02 1.382 projection of Apr 17 - Jun 3 decline from Jul 1 high
EURJPY broke lower Friday but support ahead of the YTD low at 116.57. This keeps
the bearish outlook in tact, targeting the 1.0% 10-dma envelope below and
psychological support at 116.00. 118.48 is resistance and while this holds, the
focus is on 116.00. Further out, the Apr 2017 low 114.85 is likely to attract.