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EURJPY further extends gains to Y125.83....>

EURO-YEN
EURO-YEN: EURJPY further extends gains to Y125.83 and seen approaching
resistance from the ytd Jan2 high at Y125.94. Last week's close above Y125 has
improved the short term outlook with bulls next focus on the 50 & 55-dma's at
Y126.18/39. EURUSD earlier based around the 100-dma ($1.1438), squeezed to
$1.1453, before fading. Narrow range trade expected to continue today with the
spillover from Asia's Lunar New Year Holiday. 

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