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False Break of Trendline Support.....>

EURO-YEN TECHS
EURO-YEN TECHS: False Break of Trendline Support
EURJPY briefly broke below uptrend support drawn from the Jan 4 low at 124.23 on
Friday, before bulls mounted a recovery to keep the outlook neutral. Bears need
a close below here to reignite downside momentum towards the Jan 24 low at
123.79, a break opens a move toward the base of the channel at 123.54. Bulls
initially target down trendline resistance & the Feb 4 high at 125.90/95. A
recovery through here strengthens the uptrend and brings the 100-dma at 127.22
back into focus, ahead of a return to the 128 area.

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