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Profit Taking Having registered......>

EURO-YEN TECHS
EURO-YEN TECHS: Profit Taking
Having registered six consecutive sessions of gains, EURJPY was unable to extend
this run, meeting profit take sellers off the high. Despite this, the bullish
trend of the past fortnight remains intact. With neither the 50- or 100-dmas
providing much in the way of resistance, bulls will be confident heading into
the 200-dma at 131.33. Consolidation above the 130 level initially targets
long-term downtrend resistance off Feb highs at 130.40. On the downside, bears
need a close below the 128.50/55 area to extend the corrective pullback to the
21-dma at 128.10.

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