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Faltering below Y122 keeps outlook...>

EURO-YEN TECHS: Faltering below Y122 keeps outlook bearish
Despite a minor recovery at the NY crossover, EUR/JPY looks to close below the
Y122 mark, keeping the outlook bearish. A finish below the 50% retracement of
the June range at 121.98 would confirm this and is seen as triggering renewed
bearish signals. Any move back under the triangle top returns the focus to the
Jun 6 low at 121.26. Bulls need to clear 123.00 & the Jun 11 high to reignite
the uptrend, opening a run at the 1.0% 10-dma envelope & May 22 high at

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