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Treading Water EURJPY printed........>

EURO-YEN TECHS
EURO-YEN TECHS: Treading Water
EURJPY printed fresh three-week highs of 129.38 in early Asia, but has since
retraced gains, returning the outlook neutral. Bulls initially need a close
above the 100-dma at 129.38 to build on upside momentum. A break of the 200-dma
at 129.82 shifts the outlook more bullish, targeting the Sep highs. Bears need a
close below 128.00 to resume the modest downtrend, opening the Oct 26 low at
126.64, ahead of the Aug 15 low at 124.91.

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