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Honda Motor (7267-JT) - Towards 2-Year Low at 2,417 Yen

Honda Motor posted FY operating income dropped 12.9% to 726.37B yen, citing abrupt changes in the global business environment surrounding the auto industry. Honda share is under pressure, trading within a long term bearish channel. Below key resistance at 3,100 yen, downside targets at 2,733 yen and 2,417 yen.