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EURO-YEN TECHS: 100-DMA Capping, Bears Need Close Below 55-DMA
*RES 4: Y134.79 High Feb 8
*RES 3: Y134.16 High Feb 9
*RES 2: Y133.34 Bollinger band top
*RES 1: Y133.03 100-DMA
*PRICE: Y132.84 @ 0430GMT
*SUP 1: Y132.02 Low Apr 20
*SUP 2: Y131.78 Low Apr 12
*SUP 3: Y131.64 55-DMA
*SUP 4: Y131.05 Low Apr 5
*COMMENTARY: Despite repeatedly pressuring the 100-DMA & 21-WMA (Y132.95) last
week bears failed to manage the close above needed to shift initial focus to
Y134.16 and overall focus to 2018 highs. Correcting O/B daily studies remain a
concern for bulls and add weight to the bearish case. Bears now look for a close
below the 55-DMA to hint at a move to Y128.94-130.14 where 2018 lows, 55
(Y130.14) & 200 (Y129.31) WMAs are noted with below Y131.05 to confirm.