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Accelerating Decline EURJPY has......>

EURO-YEN TECHS
EURO-YEN TECHS: Accelerating Decline
EURJPY has accelerated lower following the break below the 55-DMA at 129.23,
which had been acting as a medium term pivotal point. The EURJPY decline has
already extended below the previous recent low at 129.13, opening the way for
the developing downtrend to be extended towards 127.15 initially. Resistance now
comes in at 129.27 and gains above here are needed for near-term stability,
while a further recovery above 130.30/67 is required to restore the recent
bullish structure.

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