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Breached Triangle Support Risk-off...>

EURO-YEN TECHS
EURO-YEN TECHS: Breached Triangle Support
Risk-off flows spilled over into Europe with EURJPY breaking triangle base
support to 121.17. The cross is currently generating a clean sweep of bearish
momentum, according to the MNI FX Technical Signal Monitor. Next support is seen
on approach to 121.00, a break here is likely to accelerate the move toward the
3% lower Bollinger band at 120.90. Bulls need to recover the 122.00 level on a
closing basis to stabilise the outlook. Above here opens triangle top resistance
at 122.67, ahead of Monday's high at 122.81.

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