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Consolidates Gains Having closed.....>

EURO-YEN TECHS
EURO-YEN TECHS: Consolidates Gains
Having closed above the 100-dma yesterday, EURJPY confirmed the bullish trend to
briefly trade above 130.00. The cross is looking to extend its rally and make it
six consecutive sessions of daily gains. Consolidation above the 130 level
targets long-term downtrend resistance off Feb highs at 130.40, and the 200-dma
currently at 131.34. On the downside, bears need a close below the 128.50/55
area to extend the corrective pullback to the 21-dma at 128.13.

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