1% Volatility Band The Bar To A......>

EURO-YEN TECHS: 1% Volatility Band The Bar To A Fresh Y134.41 Challenge

*RES 4: Y135.67 2% volatility band

*RES 3: Y134.64 1.618 swing of Y133.50-Y131.66

*RES 2: Y134.41 Sep 22 high, 61.8% Fibo of Y149.80-Y109.51

*RES 1: Y134.13 Oct 20 high

*PRICE: Y133.73 @0921GMT

*SUP 1: Y133.44/50 Oct 20 low, hourly support

*SUP 2: Y133.10 Hourly basing area Oct 19

*SUP 3: Y132.80/85 Further hourly lows Oct 19

*SUP 4: Y132.47 Oct 19 low

*COMMENTARY* The Y131.75-Y131.66 area managed to hold recent setbacks, following

last month's assault on the long term 61.8% Fibo retrace level at Y134.41. The

subsequent recovery last week has been impressive, a high of Y134.13 so far, as

we again return towards that Y134.41 high, the upper 1% volatility band at the

earlier Y134.34 level today. Again some near term overbought conditions can see

a Y133.50-Y133.10 pullback but only below Y132.80 will spoil upside momentum.