Possible Inverse Head And............>

EURO-YEN TECHS: Possible Inverse Head And Shoulders In The Making

*RES 4: Y132.59 1.618 swing of Y131.82-Y130.58

*RES 3: Y132.44 Mar 13 high

*RES 2: Y132.22 38.2% Fibo of Y137.51-Y128.95

*RES 1: Y131.82/90 Mar 27 high, 1% volatility band 

*PRICE: Y131.13 @0822GMT

*SUP 1: Y130.75/85 Hourly support

*SUP 2: Y130.54/58 Hourly base Mar 26, Mar 27 low

*SUP 3: Y129.88/98 1.618 swing Y130.58-Y131.71, Mar 23 high

*SUP 4: Y129.60/65 Hourly congestion area Mar 23-26

*COMMENTARY* Continued it's recovery following last Thursday's fall to Y128.95,

just above the key Y128.90-Y128.85 support area. A high of Y131.82 on Tuesday,

basically equating to a test of the upper 1% volatility band, at the time.

Became overbought in the near term, so a pullback was anticipated. A low of

Y130.58 seen so far but while unable to reclaim levels above Y131.79-Y131.82,

the risk is for a deeper Y129.98-Y129.88 fall. Main support Y129.60-Y129.65.