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50-, 100-dmas Could be Pivotal.......>

EURO-YEN TECHS: 50-, 100-dmas Could be Pivotal
EURJPY managed to hold above the key 200-dma on a closing basis on Friday, but
the level provided little support Monday, failing to prevent an extended decline
through 131 as well as 130. Bears look for a close at or below current levels to
shift the outlook neutral and target the 50- and 100-dmas at 129.59 and 129.36
respectively. 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.

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