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

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

*RES 4: Y132.22 38.2% Fibo of Y137.51-Y128.95

*RES 3: Y131.82/90 Mar 27 high, 1% volatility band 

*RES 2: Y131.30/39 Apr 2 high, hourly high Mar 29

*RES 1: Y130.92/00 Apr 3 high, hourly resistance

*PRICE: Y130.63 @0748GMT

*SUP 1: Y130.20 Hourly support

*SUP 2: Y129.88/98 1.618 swing Y130.58-Y131.71, Apr 2 low

*SUP 3: Y129.63 76.4% Fibo of Y128.95-Y131.82

*SUP 4: Y129.29 1% volatility band

*COMMENTARY* Continued it's recovery last week to a high of Y131.82, in line

with the upper 1% volatility band at the time, after the previous week's fall to

Y128.95, just above the key Y128.90-Y128.85 support area. Became overbought in

the near term, so a pullback anticipated, which so far has reached Y129.98,

leaving the more important Y129.88-Y129.63 levels intact for the time being.

Subsequent rise now has Y130.92-Y131.00 in the way of a test to Y131.30-Y131.39.