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Lacking Direction Failure to close...>

EURO-YEN TECHS
EURO-YEN TECHS: Lacking Direction
Failure to close above 126.50 on Friday despite returning risk appetite is a
bearish signal which keeps EURJPY firmly in its week-long range. Bulls need to
overcome this level to target the August 14 high of 126.99, which would make the
case for a reversal pattern. On the downside, a move below 125.58 would give
bears the ST advantage and put the focus squarely at the 125.29 Aug 16 low.

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