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

EURO-YEN TECHS
EURO-YEN TECHS: Pullback Continues, Y133.26-Y133.00 Next Target Zone
*RES 4: Y135.02/13 Jan 9 recovery high, Jan 8 low
*RES 3: Y134.56/65 Hourly base Jan 9, intraday high
*RES 2: Y134.20 Intraday hourly recovery highs
*RES 1: Y133.97/05 Initial intraday low, Jan 9 low
*PRICE: Y133.37 @1705GMT
*SUP 1: Y133.26 61.8% Fibo of Y131.17-Y136.64
*SUP 2: Y133.00/13 5 month s/line, 76.4% of Y132.05-Y136.64
*SUP 3: Y132.46 76.4% Fibo of Y131.17-Y136.64, 2% vol band
*SUP 4: Y132.29 4 month bear channel base projection
*COMMENTARY* The fall from last Friday's Y136.64 high continues, losing support
from the lower 1% volatility band at 133.83 today, as well as the initial 61.8%
Fibo retrace level at Y133.80. This brings into focus Y133.26-Y133.00 as the
next potential downside target area. This a combination of two further Fibo
retrace levels and the 5 month rising support line. In the meantime, look to
Y133.97-Y134.05 for resistance but back above Y134.20 likely needed for respite.

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