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Shooting Star Remains A Threat To Bulls

EURO-YEN TECHS
  • The cross is slightly weaker today and remains below last week's high of 127.08 on Sep 1.
  • One concern for bulls is the Sep 1 price pattern. The weak close that day confirmed a bearish candle pattern, a "shooting star".
  • Deeper losses would expose the key trend support at 124.44, Aug 21 low.
  • 126.02/32 marks initial resistance. A break above 127.08 though is required to confirm a resumption of the uptrend.

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