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Correcting Lower After 61.8% Fibo....>

EURO-YEN TECHS
EURO-YEN TECHS: Correcting Lower After 61.8% Fibo Retrace Caps Rise
*RES 4: Y134.41 61.8% Fibo of Y149.80-Y109.51, Sep 22 high
*RES 3: Y133.85 Hourly congestion area Sep 22-25
*RES 2: Y133.50/53 Sep 22 low, hourly base Sep 22
*RES 1: Y132.85/05 Hourly resistance
*PRICE: Y132.20 @0707GMT
*SUP 1: Y131.89 50% Fibo of Y129.37-Y134.41
*SUP 2: Y131.51/55 76.4% of Y130.62-Y134.41, 1% vol band
*SUP 3: Y131.30 61.8% Fibo of Y129.37-Y134.41
*SUP 4: Y130.56/62 76.4% of Y129.37-Y134.41, Sep 14 low
*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 fall below Y133.26, beneath which opens the prospect of a deeper
Y131.89-Y131.51 decline, as we correct the most recent gains from the Sep 14 low
at Y130.62. Meanwhile, nearest resistance falls to Y132.85-Y133.05. Back above
the latter currently needed for respite.

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