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Rally Approaches Difficult...........>

EURO-YEN TECHS
EURO-YEN TECHS: Rally Approaches Difficult Y132.22-Y132.44 Resistance
*RES 4: Y132.96 1.618 swing of Y132.18-Y129.98
*RES 3: Y132.85 Equality rise from Y129.98 to Y128.95-Y131.82
*RES 2: Y132.43/44 1 volatility band, Mar 13 high
*RES 1: Y132.22 38.2% Fibo of Y137.51-Y128.95
*PRICE: Y131.84 @0912GMT
*SUP 1: Y131.30/40 Hourly support
*SUP 2: Y131.07/11 Apr 5, Apr 9 lows
*SUP 3: Y130.75 Hourly congestion area Apr 3-4
*SUP 4: Y130.23 Apr 4 low
*COMMENTARY* Have broken above the Mar 27 high at Y131.82, giving more credence
to the potential for an inverse head and shoulders pattern to have developed
over the last 6 weeks or so. Next up, has to deal with the Y132.22-Y132.44 area,
which may be more problematic, at least in the near term. Support rises to
Y131.40-Y131.30 but Y131.11-Y131.07 currently provides the stronger region.
Directly above Y132.44 and the Y132.85-Y132.96 area becomes next attraction.

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