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50-dma keeps lid on price action.....>

EURO-YEN TECHS
EURO-YEN TECHS: 50-dma keeps lid on price action
The failure to top the 50-dma Wednesday plays into bears hands for now, keeping
focus on downside targets at Y124.18 and Y123.79. This will remain the case
until bulls are able to nudge the price back above Y125.58. Above there, bulls
target the Feb 2 high & down trendline resistance at 125.95/126.15. A recovery
through here strengthens the uptrend bringing the 128 area back into focus.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com