Downside Still Propped By Lower 1%...>

EURO-YEN TECHS: Downside Still Propped By Lower 1% Volatility Band

*RES 4: Y130.30/40 1% volatility band, Aug 16 high

*RES 3: Y129.77 Recovery high Aug 16

*RES 2: Y129.38 Congestion area Aug 17 

*RES 1: Y129.16/19 Hourly high Aug 17, Aug 22 high

*PRICE: Y128.79 @1612GMT

*SUP 1: Y128.33/40 Aug 22 low, hourly support

*SUP 2: Y127.84 Aug 21 low

*SUP 3: Y127.56/65 Aug 18 low, 1% volatility band

*SUP 4: Y127.04 Equality fall from Y130.40 to Y131.41-Y128.05

*COMMENTARY* The lower 1% volatility band has provided a prop over the last few

days and indeed allowed a small recovery. This has reached Y126.19 so far but

still lacking the impetus for an assault on the more important Y129.38-Y129.77

area. Will need to see gains back through the latter, before the overall focus

can return to the topside. Meanwhile, Y128.33-40 provides initial support,

Y127.84 then protecting the volatility band again.