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Still Lacking A Clear Direction......>

EURO-YEN TECHS
EURO-YEN TECHS: Still Lacking A Clear Direction
*RES 4: 121.15/40 2.0% Upper Bollinger Band / High Feb 20
*RES 3: 121.04 High Feb 27
*RES 2: 120.95 High Mar 3
*RES 1: 120.13 High Mar 4
*PRICE: 119.17 @ 17:00 GMT Mar 6
*SUP 1: 118.07 Low Mar 2 and key near-term support
*SUP 2: 117.61/84 2.0% 10-dma envelope / 3.0% Lower Bollinger Band
*SUP 3: 117.52 76.4% Sep 2019 - Feb 2020 Rally
*SUP 4: 117.08 Low Oct 3 and 7
EURJPY bounced sharply higher at the beginning of the week. However, it remains
too early still to tell whether the recovery is a reversal or a correction and
for now, the directional bias is in a more neutral position. A break of 118.07
would open the early October lows at 117.08. Clearance of this support would
pave the way for weakness towards the 2019 low at 115.87. The next firm
resistance is 121.40, the Feb 20 high.

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