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Below 128 Resumes The Downtrend......>

EURO-YEN TECHS
EURO-YEN TECHS: Below 128 Resumes The Downtrend
128-129 continues to contain EURJPY with the cross remaining attracted by the
128.52 Fibo level. A close below 128 would resume the downtrend, opening the Oct
26 low at 126.64, ahead of the Aug 15 low at 124.91. However, with bulls looking
to take control of USDJPY there appears to be a bit of a tug of war going on.
Bulls look for a close above the 129 level, above which the 200-dma comes into
play at 129.95.

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