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Intraday Direction Dependent On......>

EURO-YEN TECHS
EURO-YEN TECHS: Intraday Direction Dependent On Y132.72-Y132.60 Support
*RES 4: Y134.50 Oct 25 high
*RES 3: Y134.23 1.618 swing of Y133.15-Y131.40
*RES 2: Y133.89/92 Nov 14 high, 1% volatility band
*RES 1: Y133.65 Hourly resistance
*PRICE: Y132.87 @0545GMT
*SUP 1: Y132.72 Initial high Nov 14, now support
*SUP 2: Y132.60 Nov 10 high, now support
*SUP 3: Y132.40 Hourly congestion area
*SUP 4: Y131.93 Nov 13 low
*COMMENTARY* Tuesday saw a rally through Y132.74-Y132.85 resistance, thereby
confirming the near term bias for higher. Rally has reached a high of Y133.89 so
far, basically tracking the upper 1% volatility band. In the interim, support
from the hourly base at Y133.17 has given way, thereby allowing a deeper
Y132.72-Y132.60 corrective pullback. Above Y133.89 and rally can extend to
Y134.23-Y134.50 next.

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