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Bearish Outlook The sell-off in......>

EURO-YEN TECHS
EURO-YEN TECHS: Bearish Outlook
The sell-off in global equities saw EURJPY breach the 122.00 level for the first
time since early January. EURJPY is currently displaying a clean sweep of
bearish momentum, according to the MNI FX Technical Signal Monitor. A close
below today here would cement the downtrend with near-term support at 121.42
from the 3% lower Bollinger band. Below here opens a run at the 121.00 level,
ahead of the 76.4% retracement of 118.71-127.50 at 120.78. Bulls need to recover
Monday's high at 122.81, before challenging the 21-dma at 123.14.

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