Strength to strength Four of the.....>

EURO-YEN TECHS: Strength to strength

Four of the past five sessions have been strong for EURJPY, allowing the cross

to comfortably clear resistance at 127.19 and shift focus to recent highs of

129.01 and the 50-dma at 128.91. A close and hold above 128.00 will add weight

to the positive picture and further strengthen the case for an extended

recovery. Bulls target a move toward the 128.50-129.00 range, a break here opens

the Aug 7 high at 129.74. 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.