EUR/JPY edged higher to 121.46 last week but retreated
since then. Initial bias is neutral this week for some
consolidations first. Downside of retreat should be
contained above 191.11 support to bring another rally. On
the upside, break of 121.46 will resume the rise from
115.86 to 161.8% projection of 115.86 to 120.01 from
117.07 at 123.78 next.


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