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EUR/JPY has extended yesterday's slide.....>

EURO-YEN
EURO-YEN: EUR/JPY has extended yesterday's slide and shed 18 pips so far. It
last trades at Y116.24, testing the water below yesterday's worst levels, amid a
market holiday in Japan. Bears look for further losses past Apr 29 low of
Y115.45, towards Y115.00, a round figure support. On the flip side, a clearance
of May 1 high of Y117.77 is needed to give bulls some reprieve.
- The focus today will be on a ruling by German Constitutional Court on whether
the Federal Republic can continue to take part in the ECB's QE programme. The
announcement is due at 10:00am local time.
- On the data front, Spanish unemployment & EZ PPI are the main points of note.

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