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Third False Break of 100-dma.........>

EURO-YEN TECHS
EURO-YEN TECHS: Third False Break of 100-dma
EURJPY tried and failed to break the 100-dma at 126.51 for the third consecutive
session Monday, prompting another correction lower, putting weight behind the
bearish argument in the near-term. On the downside bears need to take out the
50-dma at 125.23 before focusing on the Feb 15 low & 38.2% retracement level
124.23/14. A close above here would bring the Mar 5 high at 126.94 & the 127.00
level back into play.

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