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A Bounce Seen After Test Toward......>

EURO-YEN TECHS
EURO-YEN TECHS: A Bounce Seen After Test Toward Y128.00-Y127.97 Support
*RES 4: Y130.60/65 Congestion area Aug 3-Aug 8
*RES 3: Y130.10 Aug 4 low, now resistance
*RES 2: Y129.55/56 Former support base late July, Aug 9 high
*RES 1: Y129.16/25 Intraday high, initial low Aug 10
*PRICE: Y128.65 @1523GMT
*SUP 1: Y128.25/30 Hourly support
*SUP 2: Y127.97/00 38.2% Fibo of Y122.40-Y131.41, Jul 6 low
*SUP 3: Y127.75 1.618 swing of Y128.44-Y129.56
*SUP 4: Y127.34 2% volatility band
*COMMENTARY* Support from both the congested Y129.55 area and the 4 month rising
support line gave way on Wednesday, as did the Y128.44-49 area yesterday. This
leaves Y128.00-Y127.97 as the next line of defence and protection against a
further fall toward Y127.75-Y127.34 next. In the interim, Y129.16-Y129.25 now
forms initial resistance, the former support base at Y129.55 of more consequence
higher. Sustained move below Y127.34 and look to Y126.91 next.

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