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Trendline resistance break needed....>

EURO-YEN TECHS
EURO-YEN TECHS: Trendline resistance break needed to extend downtrend:
*RES 3: 123.18 High Jun 11 and key resistance
*RES 2: 123.08 38.2% Fibonacci retracement of the Apr 17-Jun 3 decline
*RES 1: 122.25/47 Trendline resistance drawn off the Apr 17 high and intraday
high
*PRICE: 121.74 @ 15:57 GMT June 25
*SUP 1: 121.76/77 200-hma/100-hma
*SUP 2: 120.95 Low Jun 21
*SUP 3: 120.90 2% Lower Bollinger band
The cross looks to confirm recent bearish signals by closing below the breached
trendline resistance off the Apr 17 high at 122.25, opening a return to recent
lows of 120.95 and beyond. Support at the 200 & 100-hmas need to be taken out
first, which could accelerate any downmove. The Tuesday high of 122.47 marks an
important resistance level and a break would again signal a trendline break and
reinforce the bullish engulfing reversal candle from Jun 21.

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