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Recovery Efforts Look Weak Global....>

EURO-YEN TECHS
EURO-YEN TECHS: Recovery Efforts Look Weak
Global risk aversion is keeping EURJPY on the back foot with bears looking to
target Friday's low at 123.82 to open the 123.70/80 area which registered a
series of previous lows through Jan/Feb. Below here opens the 50% retracement
level & Jan 15 low at 123.54/40. Bulls need to recover the 126 level and 100-dma
at 126.36 to regain momentum, putting the focus back on the Mar 5 high at
126.94.

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