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EURJPY has been sandwiched in a tight......>

EURO-YEN: EURJPY has been sandwiched in a tight range between the 100-dma and
200-dma over the past week. Pressure is currently on the lower end of this very
tight range at 132.04, while medium term momentum indicators are starting to
turn lower, giving the first bearish signal for a week. Short term indicators,
both trend and momentum, started to turn negative at the end of last week,
consistent with the current downward pressure. A move below 132.04, 131.81 and
the pivotal 131.72 level will give fresh bearish signals, suggesting a breakout
from the recent tight range putting the near-term focus on 130.00.

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