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Continues Heavy Failure to reclaim...>

EURO-YEN TECHS
EURO-YEN TECHS: Continues Heavy
Failure to reclaim 129.00 has seen EURJPY develop a fresh bearish reversal
pattern following two sessions of relative stability. A break below trendline
support, currently at 128.30, would re-establish the broader downtrend, with
bears likely to target 127.15 in the first instance and then the June lows at
126.65. A break below here brings the YTD May 29 low at 124.62 into focus. Gains
above 129.50 are needed to stabilise the outlook and challenge the 100-dma at
130.09.

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