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Bulls Extend Break Of Falling........>

EURO-YEN TECHS
EURO-YEN TECHS: Bulls Extend Break Of Falling Wedge
EURJPY closed above 122.20 Thursday, confirming the falling wedge chart pattern.
The bullish reversal extended to as high as 127.99 in early indicative trade
this week, before fading to the 122.75 area. Bulls now look for a break above
123.00 and the nearby May 23 high & 38.2% retracement of the May-Apr fall at
123.08. Any move back under the triangle top would allow bears to return the
focus to the 50% retracement level & triangle base at 121.45/21.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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