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Shallow Recovery Recovery efforts....>

EURO-YEN TECHS
EURO-YEN TECHS: Shallow Recovery
Recovery efforts have so far remained shallow to keep the recent downtrend
intact. EURJPY bears target a downside break of the 21-dma & Feb 1 low at
124.74/37. A close back under 124 would return the focus to the Jan 15 low at
123.40. Bulls need to recover the 125.50 area, before challenging the 50-dma &
ytd high at 126.04/14, above here opens down trendline resistance off the Sep
highs at 126.47, ahead of the Dec 27 high at 127.10.

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