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EURO-YEN TECHS: Bearish Reversal Developing
EURJPY is now developing a fresh bearish reversal pattern following just two
days of relative stability and failure below the 129.50 level (38.2%
retracement). A break below trendline support, currently at 128.30, would
re-establish the broader downtrend, with bears likely to target 127.15 in the
first instance and then the June lows at 126.65. A break below here brings the
YTD May 29 low at 124.62 into focus. Gains above 129.50 are needed to stabilise