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CNY Fixing Again On The Strong Side

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Still Heavy *RES 4: 122.01 High......>

*RES 4: 122.01 High Jan 22
*RES 3: 121.72 Former channel base drawn off the Sep 3 low
*RES 2: 121.15 High May 5
*RES 1: 120.82 High Feb 7
*PRICE: 120.03 @ 10:40 GMT Feb 12
*SUP 1: 119.58 Low Nov 25
*SUP 2: 119.25 Low Nov 14 and key support
*SUP 3: 118.73 Low Oct 11
*SUP 4: 118.54 61.8% retracement of the Sep 2019 - Jan 2020 rally
The EURJPY sell-off Friday marked the end of the recent corrective recovery and
a resumption of the bearish theme and this was confirmed Monday with a print
below the 119.78 support, Jan 30 low. The move lower confirms a resumption of
the downtrend and reinforces a bearish theme for now that followed the break on
Jan 24 of the bull channel base drawn off the Sep 3 low. Further downside would
open 119.58 and 119.25. Firm resistance is at 121.15, the Feb 5 high.

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