Bulls Need Close Above 55-DMA *RES...>

EURO-YEN TECHS: Bulls Need Close Above 55-DMA

*RES 4: Y134.16 High Feb 9

*RES 3: Y133.78 High Feb 13

*RES 2: Y133.43 Hourly support Feb 13 now resistance

*RES 1: Y132.95 Hourly support Feb 14 now resistance

*PRICE: Y132.56 @ 0530GMT

*SUP 1: Y131.96 2018 Low Feb 9 

*SUP 2: Y131.15 Monthly Low Nov 20 

*SUP 3: Y130.91 200-DMA 

*SUP 4: Y130.59 Low Sept 15

*COMMENTARY: Despite recovering from 2018 lows bulls have failed to gain

traction above the 100-DMA (Y133.63). Bulls now look for a close above the

55-DMA to ease bearish pressure and above Y135.95 to initially target 2018 highs

(Y137.50). While the 55-DMA caps immediate focus remains on Y130.59-131.15 where

monthly lows and 200-DMA are noted with a close below Y131.96 to add weight to

their case. Daily studies lingering at O/S levels are the key concern for bears.