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Recovery Off Friday's Low Extends....>

EURO-YEN TECHS
EURO-YEN TECHS: Recovery Off Friday's Low Extends
*RES 4: 118.82 High Apr 13
*RES 3: 118.58 61.8% retracement of the Mar 25 - May 6 sell-off
*RES 2: 118.52 High May 21
*RES 1: 117.98 High May 22
*PRICE: 118.09 @ 10:43 BST May 26
*SUP 1: 117.00 Low May 22
*SUP 2: 116.85 High May 12
*SUP 3: 115.30/33 Low May 11 / Low May 14 and key support
*SUP 4: 114.43 Low May 6 and bear trigger
EURJPY found resistance at Thursday's 118.52 high and remained under pressure
into the Friday close. The pullback though was considered a correction and the
cross has delivered a positive reaction today trading back above 118.00. Last
week the cross breached 117.78, Apr 30 high reversing a recent bearish tone.
This opens 118.82, Apr 13 high and 119.04, the Apr 7 high. Initial support is
Friday's 117.00 low, the outlook is bullish while this level holds.

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