Failed To Take Out 55-DMA *RES 4:....>

EURO-YEN TECHS: Failed To Take Out 55-DMA

*RES 4: Y132.54 High Apr 30

*RES 3: Y132.38 200-DMA

*RES 2: Y131.51 21-DMA

*RES 1: Y131.37 High May 14

*PRICE: Y130.95 @ 0240GMT

*SUP 1: Y130.74 Hourly support May 15 

*SUP 2: Y129.91 Hourly support May 9 

*SUP 3: Y129.67 Hourly support May 9 

*SUP 4: Y129.19 200-WMA

*COMMENTARY: Despite day studies correcting from O/S and adding support to the

case for a bigger correction, bears take comfort in the hesitation around the

55-DMA (Y131.25) to start the new week. The topside failure around the 55-DMA

now sees focus back on the break of Y129.91 needed to reconfirm immediate focus

on 2018 lows. Bulls now need a close above the 21-DMA to add to confidence and

above the 100-DMA (Y132.67) to shift focus to Y133.48-134.10.