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Consolidation Phase EURJPY has.......>

EURO-YEN TECHS
EURO-YEN TECHS: Consolidation Phase
EURJPY has largely consolidated between 128-129 towards the end of the week,
searching for a break. Bulls initially need to recover the 100-dma at 129.53 to
build on recent momentum, a break of the 200-dma at 130.02 shifts the outlook
positive. Above here opens the Oct 10 high & 61.8% retracement level of
133.13-126.64 at 130.50/65. Bears look for 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.

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