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Consolidation Phase EURJPY has so....>

EURO-YEN TECHS
EURO-YEN TECHS: Consolidation Phase
EURJPY has so far managed to hold above 127.00 as the cross extends its recovery
off Friday's 2-month low. the 38.2% retracement from 2012 lows to 2014 highs at
128.36 is acting as near-term resistance. For bulls to regain control, this
level needs to be recovered before the 100-dma at 129.47 & 1.30 level is
challenged. Bears target a close below 127.00, before targeting Friday's low at
126.64, ahead of the Aug 15 low at 124.91.

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