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Is EURJPY running out of steam?. The.......>

EURO-YEN
EURO-YEN: Is EURJPY running out of steam?. The recovery from the 128.95 March
low is now nudging up against the major resistance barrier at 133.06. Positive
momentum signals which have been a supportive factor since the beginning of
March are starting to wane. Meanwhile, trend indicators are providing little
inspiration, being flat in a neutral zone. Initial up trendline support is at
132.26 with the recent range bottom at 132.12. A move below here starts to turn
the near-term picture bearish, with 131.80 medium term key support. A  quick
move through the 133.06 barrier is now needed to restore bullish momentum,
putting the focus on 134.50 initially. Failure leaves EURJPY technically
vulnerable.

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