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Wedged Between DMAs Wednesday's......>

EURO-YEN TECHS: Wedged Between DMAs
Wednesday's recovery was modest at best, keeping the rate wedged between the
200-dma (130.88) and the 50- and 100-dmas (at 129.57 and 129.37 respectively). A
recovery above the 200-, or a drop below the 50-dma, is needed to restore
momentum in either direction, with the short-term outlook stuck in neutral for
the time being. The bigger picture, however, remains bearish and a close below
the 100-dma would open the Sep 10 low of 127.97.

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