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EURJPY breached long-term up trendline.....>

EURO-YEN: EURJPY breached long-term up trendline support off the June 2016 low
at Y125.66 yesterday. We highlighted the break and noted the cross was
displaying a clean sweep of bearish momentum, according to the MNI FX Technical
Signal Monitor. (See MNI Analysis email - EURJPY Bearish Breakout - 1401GMT).
The FX flash crash saw EURJPY print 20-month lows of Y118.71, but has since
retraced a large portion of losses to Y122.54. The 76.4% retracement of daily
range provides the next layer of resistance at Y122.70, ahead of the 50% fibo of
Y127.10-118.71 at Y122.90.   

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