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Looking For The Next Break EURJPY....>

EURO-YEN TECHS
EURO-YEN TECHS: Looking For The Next Break
EURJPY came within touching distance of the May 15 low at 122.08 yesterday,
before staging a recovery ahead of the NY close. Consolidation has largely
remained the theme through Asia/Europe with bears downside focus on the May 15
low & 122.00 level. Further support is located behind at 121.95 from the 50%
retracement of the 2012 low-2014 high. Bulls need to take out the 21-dma & May
21 high at 123.52/74 to regain the upper hand. Above here brings the 124 level
back into view, with a break suggesting a bullish reversal.

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