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Downtrend Remains in Check Risk......>

EURO-YEN TECHS
EURO-YEN TECHS: Downtrend Remains in Check
Risk averse markets have continued to keep the downside in check through Europe.
EURJPY is breaking back into its broad downtrend from the February highs
following the failure to consolidate above 126.00, with ytd lows at 124.62 the
initial downside target. Below here opens Jun 2017 lows at 123.85 ahead of the
long-term 50% retracement level at 123.54. Bulls need a recovery above 126.82 to
improve the near-term outlook.

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