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Back on the defensive EURJPY.........>

EURO-YEN TECHS
EURO-YEN TECHS: Back on the defensive
EURJPY charted a Hanging Man candle pattern on Monday which is a bearish
reversal pattern. EURJPY failed to consolidate above 125.00 with the downtrend
extending through 124.50. This brings the April 26 low & 124.00 level back into
play, with a break here needed to return the focus to the 50% retracement of the
2016 lows to the 2018 highs & March lows at 123.72/66. On the topside bulls look
to clear the 125.30-60 zone which holds the 100-dma, 50% retracement of the Apr
fall & previous series of highs.

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