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Back Under 122.00 EURJPY failed to...>

EURO-YEN TECHS
EURO-YEN TECHS: Back Under 122.00
EURJPY failed to break down trendline resistance off the Apr 17 high on
Wednesday, with the retracement extending back under the 122.00 level. Bears
need a break of trendline support around 121.25 before returning the focus to
the downside. Further support is located at 121.00, ahead of the longer-term
trendline at ~120.45. Bulls look for a positive close above 122.20 to cement the
uptrend and bring the 21-dma & May 28 high back into view at 122.41/70.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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