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A less than auspicious start to the new....>

EURO-YEN
EURO-YEN: A less than auspicious start to the new trading day, the cross holding
a narrow Y131.93 to Y132.08 range. Up next, Japan's Machinery Orders, Current
Account and Trade Balances provide the main event risks, strategists at CBA
expect Japan's  current account surplus to remain high at around Y2,000 billion
or about 4% of GDP, they say, a large c/a surplus is JPY supportive. Initial
resistance is seen at Y132.26 (50% fib Y133.12-Y131.40 decline), while hourly
support is seen just above Y131.80.

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