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125 Being Challenged? EURJPY has.....>

EURO-YEN TECHS
EURO-YEN TECHS: 125 Being Challenged?
EURJPY has traded in a 123.50-125.10 range since Jan 7, and has over the past
few trading sessions challenged the 125 level. On Friday we reached a recent
high of 125.32, and a close above 125 would hang bulls the impetus. A move above
here would open a move towards the Jan 1 & Dec 31 highs at 126.14/44. Bears need
to move the cross back below the Jan 15 low at 123.40 to return focus to the
38.2% retracement level & Jan 4 low at 122.65/59.

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