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Barely Budged In its tightest........>

EURO-YEN TECHS
EURO-YEN TECHS: Barely Budged
In its tightest trading session since August 6th, EUR/JPY generated little in
the way of new technical signals, leaving the recent recovery from multi-month
lows of 124.91 looking insipid. Two consecutive failures to close above 126.50
despite returning risk appetite remains a bearish signal, which keeps the cross
firmly in its week-long range. Bulls need to a convincing rise above here to
target the 50- and 100-dmas at 128.99 and 129.76, which would make the case for
a reversal pattern. On the downside, a move below 125.58 would give bears the ST
advantage and put the focus squarely at the 125.29 Aug 16 low.

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