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Bears in Control, for Now EURJPY.....>

EURO-YEN TECHS
EURO-YEN TECHS: Bears in Control, for Now
EURJPY broke below up trendline support from the March 28 low yesterday as well
as the 100/55-dmas at 125.63/53 and the 38% retracement of 126.81-123.66 at
125.61. At the time of writing bulls are trying to recover these key levels, but
they are holding fast for now leaving bears firmly in charge. The next downside
target comes in 125.00 & the Apr 10 low at 124.78. Bulls need to recover the 126
handle before challenging Thursday's high at 126.81. A break here opens a run at
the 127 level, ahead of the Mar 1 high & 200-dma at 127.47.

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