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Broader Bearish Trend Resumes........>

EURO-YEN TECHS
EURO-YEN TECHS: Broader Bearish Trend Resumes
EURJPY broke back below 118 yesterday as the decline picks up pace following
last week's failure to take out the 200-dma last week. The Oct 26 low at 126.64
is the next level of support, below which the 124.91 Aug 15 low would come back
into play. Bulls initially need to recover the 100-dma at 129.51 to change the
short-term outlook. A successful close above the 200-dma at 130.09 would confirm
the broader bullish trend, targeting the Oct 10 high & 61.8% retracement of
133.13-126.64 at 130.50/65.

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