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Bulls Need Close Above Y126.47.......>

EURO-YEN TECHS
EURO-YEN TECHS: Bulls Need Close Above Y126.47
*RES 4: Y128.53 High May 28
*RES 3: Y127.27 Hourly resistance May 29
*RES 2: Y126.47 Low June 28 now resistance
*RES 1: Y125.80 Alternating support/resistance
*PRICE: Y125.06 @ 0240GMT
*SUP 1: Y124.61 2018 Low May 29 
*SUP 2: Y123.63 Low June 21 2017 
*SUP 3: Y122.40 Weekly Bull channel base off 2016 Low 
*SUP 4: Y122.38 Monthly Low June 15 2017
*COMMENTARY: Failures around 21 & 55-DMAs resulted in a dip below the daily bear
channel base coming in around Y124.96. The break of the key Y125.80 level adds
weight to the case for a test of the Y122.38-40 region where the weekly bull
channel base off 2016 lows is found although a weekly close below Y125.80 would
be ideal. O/S studies and the Bollinger base (Y126.06) are hinting the move is a
little overdone. Bulls now need a close above Y126.47 to gain breathing room.

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