* El Paso - Waha estimated at -$0.82 mmcf in a sharp move lower from $0.29 d/d * US Gulf end user de...
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EURJPY is sharply firmer Wednesday as the cross extends the rebound from Monday’s low. MA studies are in a bear-mode position and this suggests that the latest recovery is likely a correction - however today’s rally shows the correction has legs. Initial resistance at 159.93 has given way, shifting focus to key resistance at 161.09, the 50-day EMA, where a break would highlight a stronger reversal. The bear trigger lies at 155.61, the Feb 10 low.