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A Close Above 126.48 in Focus........>

EURO-YEN TECHS
EURO-YEN TECHS: A Close Above 126.48 in Focus
EURJPY has spent the past week trying to close above the 100-dma at 126.48. At
the time of writing we are trading above the moving average, but a close here
would be essential to change the near-term outlook to bullish rather than
neutral. Above here brings the Mar 5 high at 126.94 & the 127.00 level back into
play. To regain the advantage bears need a close back below 126 to bring the
50-dma at 125.28 into play before focusing on the Feb 15 low & 38.2% retracement
level 124.23/14.

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