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EURO-YEN TECHS: Remains defensive
EURJPY charted a bearish Hanging Man candle pattern at the beginning of the week
and failed to consolidate above 125.00, extending the downtrend to 124.28
Friday. This brings the April 26 low & 124.00 level back into play, with a break
here needed to return the focus to the 50% retracement of the 2016 lows to the
2018 highs & March lows at 123.72/66. On the topside bulls look to clear the
125.30-60 zone which holds the 100-dma, 50% retracement of the Apr fall &
previous series of highs.