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126.80 in Focus After moving above...>

EURO-YEN TECHS
EURO-YEN TECHS: 126.80 in Focus
After moving above the 100-dma on Thursday and closing above on Friday, EURJPY
has failed to consolidate on Monday and has fallen back below both the 38.2%
retracement of 109.57-137.50 at 126.83 and the 100-dma at 126.80. Bears continue
to look for a close below these levels to stabilise the outlook and bring the
50-dma back into view at 125.09 ahead of the Feb 15 low at 124.23. Bulls need to
clear 127.50 to reignite upside momentum, opening the key 128 area & 200-dma at
128.11.

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