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EURO-YEN TECHS: 200-DMA Proves Unsupportive
EURJPY managed to hold above the key 200-dma on a closing basis on Friday but
the level failed to hold Monday morning, extending declines through 131 and
challenging 130. Bears look for a close at or below current levels to shift the
outlook neutral and target 130 and the 100-dma at 129.37. Bulls need to break
132.00 to return upside focus, before targeting 133.00, a level which is growing
in importance having failed to hold at a closing basis in recent sessions.