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Steady Upward Trajectory *RES 4:.....>

EURO-YEN TECHS
EURO-YEN TECHS: Steady Upward Trajectory
*RES 4: 123.25 38.2% retracement 2018 - 2020 decline
*RES 3: 122.87 High Jan 16 and major resistance
*RES 2: 122.76 3.0% 10-dma envelope
*RES 1: 122.52 High Jun 03
*PRICE: 122.45 @ 17:03 BST Jun 3
*SUP 1: 121.15 High Mar 25
*SUP 2: 119.62 Low Jun 2 and key near-term support
*SUP 3: 118.87 Low May 29
*SUP 4: 118.12 20-day EMA
EURJPY maintains an impulsive bullish tone. Having taken out the late March
highs Tuesday, the cross rallied further Wednesday with attention now on 122.87,
the Jan 16 high and major resistance. At present, the RSI is flagging the cross
as the most overbought since mid-2017, which suggests further gains will be hard
fought, particularly with prices above both the 1.0% and 2.0% 10-dma envelopes.
Yesterday's low of 119.62 marks support.

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