Bounce Fades Fast: *RES 4: 120.01....>

EURO-YEN TECHS: Bounce Fades Fast:

*RES 4: 120.01 High Sep 13 and the bull trigger

*RES 3: 118.74 Channel resistance drawn off Apr 17 high

*RES 2: 118.47 High Sep 27

*RES 1: 118.00 High Oct 2

*PRICE: 117.36 @ 16:30 GMT Oct 8

*SUP 1: 117.08 Low Oct 3 and Oct 7

*SUP 2: 116.85 76.4% retracement Sep3 - Sep13 rally

*SUP 3: 116.13 Low Sep 4

*SUP 4: 115.87 Low Sep 3 and M/T bear trigger

Hopes of a bullish correction faded Tuesday as the cross resumed its downtrend

and headed back toward the recent lows. This affirms the vulnerability of the

pair and initially targets 117.08 and 116.85, the 76.4% retracement. A break

here would expose the key 115.87 bear trigger. A breach of the channel top at

118.74 and of resistance at 120.01 is still the requirement for a trend

reversal.