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EURO-YEN TECHS: Below Y126.22 To Shift Focus Lower
*RES 4: Y129.21 21-DMA
*RES 3: Y129.09 200-WMA
*RES 2: Y128.53 High May 28
*RES 1: Y127.70 High May 31
*PRICE: Y127.22 @ 2130GMT
*SUP 1: Y126.22 Hourly support May 30
*SUP 2: Y125.71 Hourly support May 30a
*SUP 3: Y124.61 2018 Low May 29
*SUP 4: Y123.63 Low June 21 2017
*COMMENTARY: The failure to gain traction below the 100-WMA (Y125.15) and
confirm the break of Y125.80 resulted in a bounce Wednesday and a continuation
Thursday. Correcting O/S studies add support to the case for a correction back
to Y128.53-129.59 where the 21-DMA & 200-WMA are. Initial support is now noted
at Y126.22 with bears needing a close below to return initial focus to 2018
lows. Bears need a close below the 100-WMA (Y125.15) to retain bearish momentum.