Mar 14 Low At Y131.02 Now The Bar....>

EURO-YEN TECHS: Mar 14 Low At Y131.02 Now The Bar To Continued Rise

*RES 4: Y132.44/48 Mar 13 high, 38.2% Fibo, 1% vol band

*RES 3: Y131.77 76.4% Fibo of Y132.44-Y129.61

*RES 2: Y131.35 Congestion area early March

*RES 1: Y131.02 Mar 14 low, now resistance

*PRICE: Y130.63 @1258GMT

*SUP 1: Y129.95/05 Hourly support

*SUP 2: Y129.61/70 Intraday low, 1% volatility band

*SUP 3: Y129.35 Mar 5 low

*SUP 4: Y128.85 38.2% Fibo of Y114.85-Y137.51

*COMMENTARY* Failure last Tuesday to move through the 38.2% Fibo retrace level

at Y132.47, coupled with the upper 1% volatility band, heaped problems back on

the downside. The fall below Y130.05 has been held at Y129.61 so far today, just

below the lower 1% volatility band and above the key Mar 5 low at Y129.35. Some

respite has followed, with the move back through Y130.25-Y130.52, the Mar 14 low

at Y131.02 now the next barrier to surmount.