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Challenging YTD Highs Yesterday's....>

EURO-YEN TECHS
EURO-YEN TECHS: Challenging YTD Highs
Yesterday's close above the 50-dma (125.31) improved the outlook. EURJPY
extended gains to 125.94, but failed to take out the Feb 4 high (125.95) and now
gives more importance to this level. A break of 126 would reignite upside
momentum putting focus back on the ytd high at 126.14, ahead of a potential
return toward the 128 level. On the downside bears look to retake the 50-dma to
open the Feb 15 low at 124.23.

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