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EURO-YEN TECHS: Uptrend Stalled
Despite touching highs of 128.54, EURJPY failed to consolidate gains and is
starting to show signs of bullish exhaustion. Bears need a close below 127.00 to
change the short-term outlook, before turning attention toward Friday's low at
126.64, ahead of the Aug 15 low at 124.91. Bulls target cloud base resistance at
129.02, a break opens the 38.2% retracement of the recent downtrend at 129.12.