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EURO-YEN TECHS: Lacking Direction
EURJPY topped out at 124.89 before drifting back into the range. Bulls need a
close above the 21-dma (124.73) to bring the 125.50 level into view. Above here
would open a run at the 50-dma & ytd high at 125.70/126.14. With last week's
bearish reversal in mind, a downside break of 124 is required to extend the
downtrend and open the Jan 15 low at 123.40.