###POV Y125.80-131.15 Support Key....>

EURO-YEN TECHS: ###POV Y125.80-131.15 Support Key For LT Bulls

- Given the recent correction in global equity indices and subsequent correction

lower in Euro-Yen in line with a risk off bias and a flight to Yen, talk of key

LT support levels comes back into focus. The Y125.80-131.15 region where 55

(Y128.14) & 200 (Y129.73) WMAs are noted remains key.

- LT traders look for a close below Y131.15 (Nov Monthly Low) to ring alarm

bells with a close below Y125.80 (double weekly top May 2017 now support) to

confirm a shift in focus back to Y109.46-114.82 where 2016 & 2017 lows are

situated. Note the bull channel base (Y120.51) off 2016 lows and the LT rising

trend line (Y115.93) off 2012 lows which may slow the move. Bears take comfort

in correcting modestly O/B weekly studies adding weight to their case.

- While Y131.15 supports LT bulls maintain focus on Y139.02 & Y141.05 monthly

highs from 2015. In saying that, LT bulls need a close above Y137.50 2018 highs

to add support to their case and confirm an easing of pressure on key support

layers.

- Click for chart https://tinyurl.com/ydyqrw6e