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Risk-off Dents Appetite Italian......>

EURO-YEN TECHS
EURO-YEN TECHS: Risk-off Dents Appetite
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.
A close below here shifts the outlook back to neutral and targets a return to
the 128.00 area. Bulls need to close the week 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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