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Lower 1% Volatility Band Protects....>

EURO-YEN TECHS
EURO-YEN TECHS: Lower 1% Volatility Band Protects Y129.32-Y129.26 Support
*RES 4: Y131.21 Jul 20 high
*RES 3: Y130.88 Jul 18 low, now resistance
*RES 2: Y130.60 Hourly base Jul 20
*RES 1: Y130.30/45 Hourly resistance
*PRICE: Y130.06 @0821GMT
*SUP 1: Y129.60/74 1% volatility band, Jul 24 low
*SUP 2: Y129.32 2 month daily rising support line
*SUP 3: Y129.26 76.4% Fibo of Y128.42-Y131.99
*SUP 4: Y128.84 Former 2018 resistance line, now support
*COMMENTARY* Having broken above key Y131.38-Y131.40 resistance, the rally was
frustrated by the upper 1% volatility band at Y131.99 last week. The subsequent
fall has now broken below initial support from Y130.42 and the 50% Fibo retrace
level at Y130.20. Now looking to the lower 1% volatility band at Y129.60 today,
for protection against a deeper Y129.32-Y129.26 fall. Meanwhile, resistance from
between Y130.30-Y130.60 is the bar to any recovery potential.

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