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EURO-YEN TECHS: Close Below 124 Opens Move on 122
EURJPY hit lows of 123.36 in early Asia-Pac trade with risk-off sentiment
pressuring the pair. While off its lows the bearish picture remains intact and a
close below 124 would cement the downside break. Below here would open a return
the focus to the 50% retracement of the 2016 lows to the 2018 highs & March lows
at 123.72/66. On the topside bulls look to close above 124 to bring the focus
back to the 125.30-60 zone which holds the 100-dma, 50% retracement of the Apr
fall & previous series of highs.