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Approaching A Key Support Zone

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Strong Rebound

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Pullback Hits Pause

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EURO-YEN TECHS
EURO-YEN TECHS: Confusion Still Reigns As Conflicting Signals Appear
*RES 4: Y132.30/47 1% vol band, 38.2% of Y137.51-Y129.35
*RES 3: Y132.19 Feb 27 high
*RES 2: Y131.98/02 Mar 8, Mar 6 highs
*RES 1: Y131.60/68 Hourly resistance
*PRICE: Y131.33 @1025GMT
*SUP 1: Y130.75/80 Hourly support
*SUP 2: Y130.52/53 Mar 8 low, Mar 2 high
*SUP 3: Y130.27 Initial rally high Mar 5, now support
*SUP 4: Y129.95/00 Congestion area Feb 28-Mar 5
*COMMENTARY* Monday's bullish 'outside day' resulted in a Y132.02 rise, before
meeting resistance from some overbought conditions. The subsequent lower close
has now seen the appearance of a potentially bearish 'Doji' candle at Tuesday's
close. The loss of Y130.93 support switched attention to the Y130.53 area for
next clues. Have to hold around here or risk returns lower. Meanwhile,
Y131.60-Y131.68 now provides resistance ahead of Y132.02 again.

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