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Challenging Mar 20 High Global.......>

EURO-YEN TECHS
EURO-YEN TECHS: Challenging Mar 20 High
Global risk appetite improved after the release of stronger-than-expected
Chinese export and lending data. EURJPY squeezed back above 126.50, before
meeting resistance from the Mar 20 high at 126.79. A break here puts the focus
back on the 127.00 level, ahead of a run at the Mar 1 high & 200-dma at
127.50/67. On the downside, bears need a move back below 125.83 to negate the
upside break. Wednesday's low at 124.78 is the next target, ahead of the 100-mma
& 61.8% retracement level at 124.62/41.

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