Decline Tests And Holds Key..........>

EURO-YEN TECHS: Decline Tests And Holds Key Y131.14-Y131.03 Support Area

*RES 4: Y133.46 Nov 16 high

*RES 3: Y133.25/30 Hourly congestion area Nov 15

*RES 2: Y132.80 Nov 15 low, now resistance

*RES 1: Y132.47/53 Nov 20 high, hourly resistance

*PRICE: Y132.07 @0805GMT

*SUP 1: Y131.80/85 Hourly support

*SUP 2: Y131.45 Hourly base Nov 20

*SUP 3: Y131.03/14 50% of Y127.56-Y134.50, 1% volatility band

*SUP 4: Y130.62 Sep 14 low

*COMMENTARY* Rally tracked and was contained by the upper 1% volatility band at

Y133.89 last week, thereby failing to make any inroads into the previous Y134.50

high. The subsequent fall has been swift, testing the base of the recent range

and lower 1% volatility band between Y131.14-Y131.03. Some near term oversold

conditions have since prevailed, allowing a bounce. This sees Y132.47-Y132.53 as

immediate resistance, Y132.80-Y133.30 above.