Pullback Continues, Testing 5........>

EURO-YEN TECHS: Pullback Continues, Testing 5 Month Rising Support Line

*RES 4: Y134.85 Hourly congestion Jan 9

*RES 3: Y134.56 Jan 10 high

*RES 2: Y134.20 Jan 10 hourly recovery highs

*RES 1: Y133.91/05 Initial intraday low, Jan 9 low

*PRICE: Y133.40 @1010GMT

*SUP 1: Y133.05/13 5 month s/line, 76.4% of Y132.05-Y136.64

*SUP 2: Y132.46 76.4% Fibo of Y131.17-Y136.64

*SUP 3: Y132.32 4 month bear channel base, 2% vol band

*SUP 4: Y132.05 Dec 15 low

*COMMENTARY* The fall from last Friday's Y136.64 high continues, losing support

from the lower 1% volatility band, which is at 133.68 today. This brings into

focus Y133.13-Y133.05 as the next potential downside target area. This a

combination of a further Fibo retrace level and the 5 month rising support line.

Lose here and then not much ahead of Y132.46-Y132.32. In the meantime, look to

Y133.91-Y134.05 for resistance but back above Y134.20 likely needed for respite.