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New Low But Higher Close Creates.....>

EURO-YEN TECHS
EURO-YEN TECHS: New Low But Higher Close Creates Bullish 'Outside' Day
*RES 4: Y133.06 Feb 21 high
*RES 3: Y132.47 38.2% Fibo of Y137.51-Y129.35, 1% vol band
*RES 2: Y132.14/19 1.618 swing Y131.55-Y130.60, Feb 27 high
*RES 1: Y132.02 Intraday high
*PRICE: Y131.64 @1352GMT
*SUP 1: Y131.35/40 Hourly support
*SUP 2: Y130.95 Initial intraday recovery high, now support
*SUP 3: Y130.53/60 Mar 2 high, intraday low
*SUP 4: Y130.27 Initial rally high Mar 5, now support
*COMMENTARY* Fresh fall Monday saw a low of Y129.35, before finding support on
the back of near term oversold conditions. With the close above Friday's Y130.53
high, this has created a potentially bullish 'outside' day on the daily chart.
Having now cleared Y131.55 this recovery can see a greater Y132.14-Y132.19 rise
next, as we correct this year's losses from Y137.51. Support Y131.35-Y130.95,
back below would take the sting out of this latest rise.

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