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Upside Potential EURJPY cleared......>

EURO-YEN TECHS
EURO-YEN TECHS: Upside Potential
EURJPY cleared the 50% retracement level at 127.19 yesterday and is starting to
generate a more positive outlook. Consolidation above 128.00 would give bulls
more confidence and further strengthen the case for an extended recovery. Bulls
target a move toward the 128.50-129.00 range, a break here opens the Aug 7 high
at 129.74. On the downside, failure to hold 126.50 returns the focus to 125.58,
below here would give bears the ST advantage and put focus squarely at the
125.29 Aug 16 low.

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