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Bears in Control ECB's new TLTRO.....>

EURO-YEN TECHS
EURO-YEN TECHS: Bears in Control
ECB's new TLTRO programme, forward guidance tweak and downgrade to
growth/inflation forecasts pressured the EUR. EURJPY cleared 126 with ease,
extending the downtrend through 125.30. This brings the 50-dma & 125.00 level
back into view, with a break opening the 100-mma & Feb 12 low at 124.46/45.
Bulls need to recover 126 to stabilise the outlook, before challenging the
100-dma at 126.71.

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