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Fresh High But Becomes Overbought....>

EURO-YEN TECHS
EURO-YEN TECHS: Fresh High But Becomes Overbought In The Near Term
*RES 4: Y133.63 76.4% Fibo of Y141.08-Y109.51
*RES 3: Y132.33 Jan 25 high
*RES 2: Y132.17 2% volatility band
*RES 1: Y131.88 Underside prev broken 5 month support line
*PRICE: Y131.34 @0935GMT
*SUP 1: Y130.90/95 Hourly support
*SUP 2: Y130.45 Hourly basing area Aug 29
*SUP 3: Y130.15 Hourly congestion area Aug 28-29
*SUP 4: Y129.66 Aug 28 low
*COMMENTARY* The rally has now surpassed the previous Y131.41 high and is now on
the approach to Y131.88-Y132.17 resistance. Has faltered so far at the slightly
earlier Y131.71 level, as the rise becomes dogged by near term overbought
conditions. In this respect, look to Y130.90-95 for initial support, this
protecting against a greater Y130.45-Y130.15 fall, as we give back some of the
gains from Monday's Y128.66 low.

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