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May 15 Lows Hold Firm EURJPY came....>

EURO-YEN TECHS
EURO-YEN TECHS: May 15 Lows Hold Firm
EURJPY came within touching distance of the May 15 low at 122.08 yesterday
before a slight recovery in risk appetite helped stabilise prices. The recovery
has been mild though keeping the downside focus intact with a break below 122.08
likely to accelerate the down move towards the 122.00 level & 50% retracement of
the 2012 low-2014 high at 121.95. Bulls need to take out the 21-dma & Tuesday's
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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