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EUR Back on The Defensive EURJPY.....>

EURO-YEN TECHS
EURO-YEN TECHS: EUR Back on The Defensive
EURJPY staged a +100 pip reversal back under 125.00 on react to the soft Italy &
German PMI readings. Bears downside focus turns to the 100-mma & Mar 8 low at
124.45/28. Below here opens a run at the 123.70/80 area which has registered a
series of previous lows through Jan/Feb. Bulls need to recover the 126 level and
100-dma at 126.42 to build momentum, putting the focus back on the Mar 5 high at
126.94.

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