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EURO-YEN TECHS: Consolidating Gains
EURJPY reclaimed the 128 level amid the backdrop of improved risk appetite.
Having recovered the 100-dma at 129.51, bulls have shifted the short-term
outlook positive. A successful close above the 200-dma at 130.09 would confirm
the broader bullish trend, targeting the Oct 10 high & 61.8% retracement of
133.13-126.64 at 130.50/65. Bears need a close below 127.50 to regain control,
targeting the Oct 26 low at 126.64, ahead of the Aug 15 low at 124.91.