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Loss of Y133.75 Support Opened The...>

EURO-YEN TECHS
EURO-YEN TECHS: Loss of Y133.75 Support Opened The Way For A Correction
*RES 4: Y134.50 Oct 25 high
*RES 3: Y134.38 Intraday high
*RES 2: Y133.90/95 Intraday hourly highs
*RES 1: Y133.45/65 Hourly resistance
*PRICE: Y133.27 @1724GMT
*SUP 1: Y132.92 Hourly support
*SUP 2: Y132.65 Nov 30 low
*SUP 3: Y132.39 Initial rally high Nov 29, now support
*SUP 4: Y132.00/10 Congestion area Nov 28-29
*COMMENTARY* Broke above the recent range top and upper 1% volatility band, also
at Y133.89 by time today. Made a beeline straight towards the Oct 25 high at
134.50, pulling up just shy at Y134.38, before submitting to some heavily
overbought hourly conditions. In this respect the loss of Y133.75 support
offered initial clues, the loss concerns and suggests some deeper correction is
required, Y133.31-Y132.65 then possible. 

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