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Risk-Averse Losses Italian budget....>

EURO-YEN TECHS
EURO-YEN TECHS: Risk-Averse Losses
Italian budget concerns triggered renewed risk-off with a move back under
132.00. Bears target a break of the 200-dma at 131.06 before challenging 130.00.
Below here shifts the outlook back to neutral and a return to the 128.00 area.
Bulls need a weekly close above 132.00 to regain the upper hand, before
targeting 133.00, a level which is growing in importance having failed to hold
at a closing basis in recent sessions. The Apr 24 high at 133.49 provides next
resistance, ahead of the 76.4% retracement of the 2018 range at 134.53.

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