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(U2) More Stable But Still Fragile


Trend Structure Remains Bullish


Cautious Risk Appetite Gains Momentum


Key Support Still Exposed


Late Equity Roundup: 2W Highs

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Upside Focus Intact *RES 4: 122.16...>

EURO-YEN TECHS: Upside Focus Intact
*RES 4: 122.16 2.0% 10-dma envelope
*RES 3: 121.83 76.4% retracement Jan 16 - Feb 18 Decline
*RES 2: 121.42 2.0% Upper Bollinger Band
*RES 1: 121.40 High Feb 20
*PRICE: 120.25 @ 06:04 GMT Feb 25
*SUP 1: 119.90 Low Feb 24
*SUP 2: 119.54 50% of the Feb 19 range
*SUP 3: 118.47 Low Feb 18
*SUP 4: 118.00 3.0% Lower Bollinger Band
EURJPY sold off Monday. Despite this pullback, the cross maintains a bullish
tone. The 50-dma as a resistance gave way on an intraday basis Thursday. A close
above this average would further cement a bullish case. Last week's high of
121.40 marks the near-term bull trigger. A break would open 121.88 and 122.37
next, the Jan 23 and 21 highs respectively. On the downside, firm support is
seen at 119.54, an important near-term Fibonacci retracement.

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