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EURO-YEN TECHS: Renewed Appetite Builds Above 124.50
EURJPY briefly challenged Friday's low before staging a recovery back through
124.50. Bulls need a close above the 21-dma (124.70) to stabilise the outlook
and bring 125.50 into view. Above here would open a run at the 50-dma & ytd high
at 125.77/126.14. With last week's bearish reversal in mind, a downside break of
124 is required to extend the downtrend and open the Jan 15 low at 123.40.