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Back to 128-129 EURJPY broke out.....>

EURO-YEN TECHS
EURO-YEN TECHS: Back to 128-129
EURJPY broke out of its broad 128-129 range following Fed Chair Powell's speech
yesterday, but has fallen back into this range once again today, leaving the
outlook neutral. The 200-dma now comes into focus at 129.84 and a break above
here would suggest a recovery towards the Sep highs. Bears need a close below
128 to resume the modest downtrend, opening the Oct 26 low at 126.64, ahead of
the Aug 15 low at 124.91.

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