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Retracement Off Range High The.......>

EURO-YEN TECHS
EURO-YEN TECHS: Retracement Off Range High
The short-term outlook remains neutral following yesterday's failure to print
fresh ytd highs. EURJPY extended to 125.94, but failed to take out the Feb 4
high at 125.95, which now gives more importance to this level. A break of 126
would reignite upside momentum putting focus back on the ytd high at 126.14,
ahead of a potential return toward the 128 level. On the downside bears look for
a close below the 50-dma at 125.24 to open the Feb 15 low at 124.23.

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