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50-DMA Gives Way The bears are now...>

EURO-YEN TECHS
EURO-YEN TECHS: 50-DMA Gives Way
The bears are now firmly in control following yesterday's close below the
50-dma, with the Sep 10 low at 127.87 the next downside target. Below here opens
the Aug 15 low at 124.91. European trade saw spot recover the 50-dma, but the
break failed to trigger any significant leg higher. This keeps the bigger
picture trend bearish and a break back above 132 would be needed to change this.

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