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EURO-YEN TECHS: 125.00 Remains the Target
Risk appetite boosted EURJPY through 124.80 in the European morning session on
Monday before momentum run out of steam somewhat. Bulls continue to look to
recover the 125 level to improve the outlook. Consolidation above would target
the 50% retracement of 126.81-124.09 & 100-dma at 125.45/50. Bears need to take
out the Apr 26 low & 124.00 level to open the 50% retracement of the 2016 lows
to the 2018 highs & March lows at 123.72/66.