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Finds Near Term Support Within The...>

EURO-YEN TECHS
EURO-YEN TECHS: Finds Near Term Support Within The Y131.85-Y131.66 Zone
*RES 4: Y133.46 Hourly highs Oct 26
*RES 3: Y132.96 Oct 27 high
*RES 2: Y132.80 Hourly congestion Oct 26-27
*RES 1: Y132.60/65 Hourly resistance
*PRICE: Y132.17 @1015GMT
*SUP 1: Y131.66/75 Oct 16, Oct 27 lows
*SUP 2: Y131.41 Aug 2 high, now support
*SUP 3: Y131.03/09 38.2% of Y127.56-Y134.50, Sep 7 high
*SUP 4: Y130.48 2% volatility band
*COMMENTARY* Unable to sustain a move above the Y134.41 Fibo level last week and
paying the price for spurning this opportunity. The fall has been compounded
again by the loss of Y132.47-Y132.33 and has subsequently dipped into the next
area of support from between Y131.85-Y131.66. Meanwhile, Y132.60-Y132.96
provides initial resistance and the bar to any further upside corrective
opportunity. Below Y131.66 and Y131.09-Y131.03 is the next support of note.

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