Correcting After 61.8% Fibo..........>

EURO-YEN TECHS: Correcting After 61.8% Fibo Retrace Caps Rise

*RES 4: Y133.85 Hourly congestion area Sep 22-25

*RES 3: Y133.50/53 Sep 22 low, hourly base Sep 22

*RES 2: Y133.04 Hourly base Sep 25, now resistance

*RES 1: Y132.80 Hourly resistance

*PRICE: Y132.64 @0813GMT

*SUP 1: Y132.00/09 Hourly support, Sep 27 low

*SUP 2: Y131.75 Sep 26 low

*SUP 3: Y131.51 76.4% Fibo of Y130.62-Y134.41

*SUP 4: Y131.30 61.8% Fibo of Y129.37-Y134.41

*COMMENTARY* The rally failed at Y134.41 last week, in line with a test to the

61.8% Fibo retrace of the long term  Y149.80-Y109.51 fall. In the interim, we

have seen a loss of Y133.26, beneath which opened the prospect of a deeper

Y131.72-Y131.51 decline, as we correct the most recent gains from the Sep 14 low

at Y130.62. Meanwhile, nearest resistance falls to Y132.80-Y133.04. Back above

the latter currently needed for respite.