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Recovery intact: *RES 4: 119.88......>

EURO-YEN TECHS
EURO-YEN TECHS: Recovery intact:
*RES 4: 119.88 High Aug 6
*RES 3: 119.87 2.0% 10-dma envelope
*RES 2: 119.40/59 50-DMA / High Aug 13
*RES 1: 118.77 Intraday high
*PRICE: 118.48 @ 08:40 GMT Sep 10
*SUP 1: 117.73 Low Sep 9
*SUP 2: 117.28 Low Sep 5
*SUP 3: 115.87 Low Sep 3 and key support
*SUP 4: 115.02 1.382 projection of Apr 17 - Jun 3 decline from Jul 1 high
EURJPY maintains a positive outlook as the cross extends the recent rebound off
the Sep 3 low of 115.87. Momentum studies are firm and recent gains highlight a
bullish turn in moving average studies, with prices trading above the 50-day
EMA. Further near-term gains are seen likely, the focus is on 119.59 and 119.88,
the Aug 13 and Aug 6 highs respectively ahead of the bear channel top at 120.04.
This is drawn off the Apr 17 high. Support is at 117.73.

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