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Fresh Fall Exposes Y127.09-Y126.99...>

EURO-YEN TECHS
EURO-YEN TECHS: Fresh Fall Exposes Y127.09-Y126.99 Support
*RES 4: Y128.85/94 Jun 25 high, 61.8% Fibo of Y130.36-Y124.62
*RES 3: Y128.46 Jun 26 high
*RES 2: Y128.20 Congestion area Jun 25-Jun 27
*RES 1: Y127.80 Jun 26 low, now resistance
*PRICE: Y127.38 @0840GMT
*SUP 1: Y126.99/09 Jun 21, Jun 20 lows
*SUP 2: Y126.62/64 1% volatility band, Jun 19 low
*SUP 3: Y125.97 76.4% Fibo of Y124.62-Y130.36
*SUP 4: Y125.27/34 1.618 swing Y126.64-Y128.85, 2% vol band
*COMMENTARY* This week saw another attempt to reach the 61.8% Fibo retrace level
at Y128.94, attaining a high of Y128.85 before retreating on the back of some
overbought hourly conditions. In this respect, support from Y127.65-Y127.28 has
since been overcome leaving the main downside protection between Y127.09-Y126.99
exposed. Loss would put Y126.64 back under pressure. Resistance Y127.80-Y128.20
but Y128.46 currently provides a stiffer test higher.

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