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Y131.37 Resistance Remains Key.......>

EURO-YEN TECHS
EURO-YEN TECHS: Y131.37 Resistance Remains Key
*RES 4: Y132.42 200-DMA
*RES 3: Y132.40 100-DMA
*RES 2: Y132.00 Daily Bear channel top off 2018 high
*RES 1: Y131.37 High May 14
*PRICE: Y130.59 @ 2130GMT
*SUP 1: Y130.22 Low May 17 
*SUP 2: Y129.51 Low May 16 
*SUP 3: Y129.16 200-WMA 
*SUP 4: Y128.94 2018 Low Mar 23
*COMMENTARY: Bears take comfort in failures around 21 & 55-DMAs. Y131.37 remains
key resistance this week with bulls needing a close above to confirm breaks of
21 & 55-DMAs, easing bearish pressure, and above the 200-DMA (Y132.42) to shift
focus to Y133.48-134.10. While Y131.37 caps bears initially focus on 2018 lows
with a close below needed to target the daily bear channel base around Y125.31
today.

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