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Your log indicates that your Java is out of date. Please try updating your Java first. If your problem persists, please post a new log to pastebin.com and link your paste here.
I've encountered this issue in the past, and for me, what worked was turning the launcher completely off and turning it back on.
Also, you can try a clean re-install of the launcher. I was not able to get this to work when I had this problem, but some people are reporting that they have been able to get it to work. (instructions are in my troubleshooting guide, linked in my signature)
