Bulls Need Close Above Y129.89.......>

EURO-YEN TECHS: Bulls Need Close Above Y129.89

*RES 4: Y130.23 Hourly support Aug 8 now resistance 

*RES 3: Y129.89 Low Aug 1 now resistance

*RES 2: Y129.54 High Aug 10 

*RES 1: Y128.83 Hourly resistance Aug 10

*PRICE: Y128.35 @ 0430GMT

*SUP 1: Y127.99 Low July 6 

*SUP 2: Y127.43 Low June 30 

*SUP 3: Y127.39 55-DMA 

*SUP 4: Y126.56 Low June 28

*COMMENTARY: Having supported the past 3 weeks, bears take comfort in closes

below the 21-DMA that confirm an easing of bullish pressure and sees focus on

Y127.39-43 where key supports and the 55-DMA are located. Layers of resistance

are weighing and leaving the pair looking offered. Bulls now need a close above

Y128.83 to gain breathing room and above Y129.89 to shift focus back to

Y131.13-133.64. Below the 55-DMA hints at a move back to Y125.80.