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Shallow Recovery EURJPY reclaimed....>

EURO-YEN TECHS
EURO-YEN TECHS: Shallow Recovery
EURJPY reclaimed the 124.00 level Thursday, extending the rally to 124.56 in
Asia-Pacific hours. Bulls need to recover 125 to put the focus back on the
50-dma at 125.32, above here opens a run at pivotal resistance & the Mar 22 high
at 125.95/126.18. Bears look for a downside break of 124.00 to return the focus
toward the 50% retracement of 109.57-137.50 & Jan 15 low at 123.54/40. Below
here opens a run at the 123 level ahead of trendline support at 122.89. 
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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