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Consolidating Gains EURJPY...........>

EURO-YEN TECHS
EURO-YEN TECHS: Consolidating Gains
EURJPY consolidates yesterday's solid gains to hold in the middle of its narrow
121.30-73 daily range. Bulls target a break of downtrend resistance from the May
15 high and 122 level, before challenging the May 30 high & 21-dma at 122.26/56.
Bears need to clear 121.00 and yesterday's low to extend the corrective pullback
towards long-term trendline support at 120.45. Further support is located at
120.24 from the 61.8% retracement, ahead of a run at the psychological 120
level.

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