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EURO-YEN TECHS: Looking to Close Below 100/55-dmas
EURJPY broke through up trendline support from the Mar28 low at 125.86 during
the Asian session, a level that also represents the broken up trendline from
2009 lows. After also breaking below the 100/55-dmas at 125.66/52 and the 38%
retracement of 126.81-123.66 at 125.61, the pair found support just ahead of the
21-dma of 125.41. A close below 125.52 would extend the downtrend toward 125.00
& the Apr 10 low at 124.78. Bulls need to recover the 126 handle before
challenging Thursday's high at 126.81. A break here opens a run at the 127
level, ahead of the Mar 1 high & 200-dma at 127.50.