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Correction Continues As Y131.76......>

EURO-YEN TECHS
EURO-YEN TECHS: Correction Continues As Y131.76 Gives Way
*RES 4: Y133.05 Congestion area Apr 24-26
*RES 3: Y132.87/90 Initial pullback Apr 24, Apr 25 low
*RES 2: Y132.55 Apr 30 high
*RES 1: Y132.20/30 Hourly resistance
*PRICE: Y131.62 @1737GMT
*SUP 1: Y131.57 Intraday low
*SUP 2: Y131.22 50% Fibo of Y128.95-Y133.49, 1% vol band
*SUP 3: Y130.68 61.8% Fibo of Y128.95-Y133.49
*SUP 4: Y129.99  Apr 2 low, 76.4% of Y128.95-Y133.49
*COMMENTARY* Last Tuesday's Y133.49 high has seen the zenith of the recovery so
far, subsequent rallies failed to trouble it and the loss of Y132.56 support
spoiled the look of recent upside momentum. The next real area of interest from
between Y131.82-Y131.76 has given way today and opens way for a deeper
correction of gains from the Mar 22 low at Y128.95. This has Y131.22-Y130.68 as
next band of support. Resistance Y132.20-Y132.30.

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