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EURO-YEN TECHS: Bears Need Close Below 55-DMA
*RES 4: Y133.12 Hourly resistance Oct 26
*RES 3: Y132.75 21-DMA
*RES 2: Y132.44 Hourly support Oct 27 now resistance
*RES 1: Y132.22 Hourly resistance Oct 27
*PRICE: Y131.95 @ 0430GMT
*SUP 1: Y131.71 55-DMA
*SUP 2: Y131.65 Low Oct 16
*SUP 3: Y131.39 Bollinger band base
*SUP 4: Y130.59 Low Sept 15
*COMMENTARY: Continued hesitation ahead of Y134.59 resulted in a sell-off with
the pair flirting with Friday's close below the bull channel base (Y132.78)
shifting pressure to the 55-DMA. Bears need a close below the 55-DMA to target a
deeper correction initially focused on Y129.36-130.59 where the 100-DMA
(Y130.16) is found. Bulls need a close above Y133.50 to ease bearish pressure
and above Y133.99 to return focus to Y134.59.
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