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Hasn't Recovered Alongside...........>

EURO-YEN TECHS
EURO-YEN TECHS: Hasn't Recovered Alongside Equities
Despite the impressive bounce in US equities Wednesday, EUR/JPY failed to follow
suit, suggesting we're still far from a bullish breakout in the cross. Uptrend
support at the Aug lows clearly exerted influence over the recent sell-off and
that becomes the key level for bears to break in the short-term. Below here
would open a run at the August lows at 124.91. Bulls need to clear broken
trendline support-turned-resistance & the 100-dma at 128.77/98 to improve the
outlook. Above here opens the 200-dma & Nov 9 high at 129.53/64.

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