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Bears Focused On 2018 Low *RES 4:....>

EURO-YEN TECHS
EURO-YEN TECHS: Bears Focused On 2018 Low
*RES 4: Y131.37 High May 14
*RES 3: Y131.30 21-DMA
*RES 2: Y131.25 55-DMA
*RES 1: Y130.58 Hourly resistance May 16
*PRICE: Y130.35 @ 2130GMT
*SUP 1: Y129.51 Low May 16 
*SUP 2: Y129.19 200-WMA 
*SUP 3: Y128.94 2018 Low Mar 23 
*SUP 4: Y127.54 Monthly Low Aug 18
*COMMENTARY: The break of Y129.91 lacked follow through Wednesday which is less
than ideal for bears given daily studies correcting from O/S. Y131.37 is now key
resistance with bulls needing a close above to ease bearish pressure and above
the 100-DMA (Y132.58) to shift focus to Y133.48-134.10. While Y131.37 caps bears
initially focus on 2018 lows with a close below needed to target the daily bear
channel base around Y132.59 today.

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