Pullback Continues,..................>

EURO-YEN TECHS: Pullback Continues, Y134.38-Y134.34 Next Area Of Support

*RES 4: Y136.10/15 Congestion area Jan 5-Jan 8

*RES 3: Y135.98 Jan 5 low, now resistance

*RES 2: Y135.48/49 Intraday high, hourly high Jan 8

*RES 1: Y135.13/25 Jan 8 low, hourly resistance

*PRICE: Y134.61 @1030GMT

*SUP 1: Y134.34/38 50% of Y132.05-Y136.64, Dec 1 high

*SUP 2: Y133.91/94 Dec 22 low, 1% volatility band

*SUP 3: Y133.80 61.8% Fibo of Y132.05-Y136.64

*SUP 4: Y133.13 76.4% Fibo of Y132.05-Y136.64

*COMMENTARY* The fall from Friday's Y136.64 high, where the rally was chasing

the shadow of the upper 1% volatility band, has been swift, expedited by the

loss of Y135.16-Y135.13 today. This sees Y134.38-Y134.34 as the next support of

note, basically protecting the downside from a further Y133.94-Y133.80 fall, the

former the current level of the lower 1% band today. In the interim, resistance

from Y135.13-25 but back above Y135.49 needed to generate interest.