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Holds Above 128.00 EURJPY is.........>

EURO-YEN TECHS
EURO-YEN TECHS: Holds Above 128.00
EURJPY is continuing to hold above the 128.00 level despite renewed EURUSD
weakness. A break of cloud base resistance & 50% retracement at 128.31/45, opens
the Aug 9 high at 129.01. Above here further strengthens the case for an
extended recovery towards the 100-dma & Aug 7 high at 129.67/74. On the
downside, failure to hold 126.50 returns the focus to 125.58, below here would
give bears the ST advantage and put focus squarely at the 125.29 Aug 16 low.

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