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EURO-YEN TECHS: Challenging 100-DMA
Despite a minor pullback, renewed risk appetite has seen EURJPY look to
challenge the 100-dma. The 129.45-60 area is key for further topside gains with
long-term pivotal resistance & 38.2% fibo of 2018 range so far proving hard to
overcome. A break above here brings the 130.00 level into play and would allow
bulls to set their sights on the Sep highs. Bears need a close below 127.00 to
reignite downside momentum, turning attention towards the Oct 26 low at 126.64,
ahead of the Aug 15 low at 124.91.