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Comfortably Above 128 As risk........>

EURO-YEN TECHS
EURO-YEN TECHS: Comfortably Above 128
As risk appetite improved through Asia, EURJPY recovered the 128.00 level with
gains extending above 128.50. Consolidation here would see bulls target cloud
base resistance at 129.02, a break of which opens the 38.2% retracement of the
recent downtrend at 129.12. Bears need a close below 127.00 to reignite downside
momentum, turning attention towards Friday's low at 126.64, ahead of the Aug 15
low at 124.91.

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