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Fresh Lows On Spill Over From GBP Weakness

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EURO-YEN TECHS
EURO-YEN TECHS: Consolidation After Recovery Stalls Below 76.4% Fibo Level
*RES 4: Y132.44/47 Mar 13 high, 38.2% of Y137.51-Y129.35
*RES 3: Y132.27 1% volatility band
*RES 2: Y131.73/77 Mar 20 high, 76.4% Fibo of Y132.44-Y129.61
*RES 1: Y131.15/35 Hourly resistance
*PRICE: Y130.45 @0916GMT
*SUP 1: Y130.20/30 Mar 21 low, hourly support
*SUP 2: Y130.08 Hourly base Mar 16
*SUP 3: Y129.61/65 Mar 19 low, 1% volatility band
*SUP 4: Y129.35 Mar 5 low
*COMMENTARY* The recovery from Y129.61 stalled just below the 76.4% Fibo retrace
level at Y131.77 on Tuesday. Some near term overbought conditions putting an end
to the rise at Y131.73. Subsequent pullback has broken below Y130.35 support,
loss concerns but the Y130.08 level currently remains more pivotal to direction.
Below would swing bias back to the downside. Above Y131.77 and scope to increase
gains toward Y132.30-Y132.47, where equally important upside decisions are made.

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