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

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

*RES 4: Y132.33/44 1 volatility band, Mar 13 high

*RES 3: Y132.22 38.2% Fibo of Y137.51-Y128.95

*RES 2: Y131.82 Mar 27 high

*RES 1: Y131.50 Apr 5 high

*PRICE: Y131.37 @0839GMT

*SUP 1: Y130.85/90 Hourly support

*SUP 2: Y130.50 Hourly congestion Apr 3-4

*SUP 3: Y130.23 Apr 4 low

*SUP 4: Y129.98 Apr 2 low

*COMMENTARY* Last week saw 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,

the pullback reached Y129.98, leaving the more important Y129.88-Y129.63 levels

intact for the time being. Subsequent rise now challenging Y131.45 resistance,

clearance needed for another attempt higher, Y132.22-Y132.44 above Y131.82.