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Based Ahead of 128.50 EURJPY.........>

EURO-YEN TECHS
EURO-YEN TECHS: Based Ahead of 128.50
EURJPY formed a solid base ahead of 128.50, but has so far struggled to build
above 129.00 with topside gains capped by the 50-dma. A close above the 100-dma
at 129.49 and break back through 130.00 would see bulls reclaim the upper hand,
focusing on the key 200-dma at 131.29, ahead of the July 17 high at 131.99.
After a lower high was established last week, bears need to clear the 21-dma at
128.07 to change the short-term outlook.

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