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Rally Attempting To Test 1% Vol......>

EURO-YEN TECHS
EURO-YEN TECHS: Rally Attempting To Test 1% Vol Band And 5 Month Trendline
*RES 4: Y130.36 Jun 14 high
*RES 3: Y130.17 1.618 swing of Y129.50-Y128.42
*RES 2: Y129.91/96 Swing Y128.85-Y127.14, 5 mth bear channel
*RES 1: Y129.61 1% volatility band
*PRICE: Y129.38 @0830GMT
*SUP 1: Y128.73 Intraday low
*SUP 2: Y128.42 Jul 2 low
*SUP 3: Y127.93/95 Jun 28 high, initial high Jun 29
*SUP 4: Y127.66 Hourly base Jun 28
*COMMENTARY* Monday's Y129.50 high is under challenge today, as we head towards
the upper 1% volatility band at Y129.61. Any higher and the 5 month bear channel
top at Y129.96 then comes into view. As a consequence, nearest support rises to
the day's Y128.73 low, ahead of yesterday's Y128.42 pullback. Loss here would
disappoint and put further Y130.17-Y130.36 gains in abeyance, as a correction of
recent gains from Y127.14 begins to bite.

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