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Waiting to Break Out The outlook.....>

EURO-YEN TECHS
EURO-YEN TECHS: Waiting to Break Out
The outlook for EURJPY is delicately balanced as bulls struggle to build on
gains above 130 and bears struggle to break below the 100-dma support level at
129.52. A close below here would see bears regain control, targeting the Sep 10
low at 127.87, signaling the medium-term outlook is deteriorating. This morning
the 50-dma has acted as resistance at 129.66. Bulls need to recover 130.00 to
set up a run at the double-top resistance area & 200-dma at 130.50/75. A break
opens the 50% fibo of the 2018 range at 131.06.

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