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Continues Fall After Break Below 4...>

EURO-YEN TECHS
EURO-YEN TECHS: Continues Fall After Break Below 4 Month Rising Support Line
*RES 4: Y130.10 Aug 4 low, now resistance
*RES 3: Y129.55/56 Former support base late July, Aug 9 high
*RES 2: Y129.25 Initial intraday low, now resistance
*RES 1: Y129.00/05 Hourly resistance
*PRICE: Y128.51 @1602GMT
*SUP 1: Y128.23 Intraday low
*SUP 2: Y127.97/00 38.2% Fibo of Y122.40-Y131.41, Jul 6 low
*SUP 3: Y127.75 1.618 swing of Y128.44-Y129.56
*SUP 4: Y127.51 2% volatility band
*COMMENTARY* Support from both the congested Y129.55 area and the 4 month rising
support line gave way on Wednesday, as has the Y128.44-49 area today. This
leaves the day's Y128.23 low as the defence against a greater loss, as we
correct gains seen since the mid June low at Y122.40. In the interim, Y129.00-25
forms initial resistance, the former support base at Y129.55 of more consequence
higher. Sustained move below Y128.23 and look to Y127.97-Y127.51 next.

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