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EURO-YEN TECHS: Focus On Y126.22-98 Today
*RES 4: Y129.26 Alternating hourly support/resistance
*RES 3: Y128.81 High June 25
*RES 2: Y128.54 Hourly resistance June 25
*RES 1: Y127.56 Hourly support June 26 now resistance
*PRICE: Y127.34 @ 2130GMT
*SUP 1: Y126.98 Low June 21
*SUP 2: Y126.63 Low June 19
*SUP 3: Y126.22 Hourly support May 30
*SUP 4: Y124.61 2018 Low May 29
*COMMENTARY: Hesitation at Y128.81 sees the pair trading below the bull channel
base (Y127.78) off 2018 lows with immediate focus on Y126.22-98 today. Bears
need a close below Y126.22 to confirm immediate focus on tests of 2018 lows. O/S
daily studies and the Bollinger base (Y126.71) are concerns for bears. The
Y128.81 resistance remains key with bulls needing a close above to ease bearish
pressure and above Y129.65 to pressure layers of resistance Y129.91-131.37.