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Rally Encroaches Into................>

EURO-YEN TECHS
EURO-YEN TECHS: Rally Encroaches Into Y127.28-Y127.61 Resistance
*RES 4: Y128.53/54 May 25, May 28 highs
*RES 3: Y128.00 50% Fibo of 131.38-124.62
*RES 2: Y127.61 76.4% Fibo of Y128.54-Y124.62
*RES 1: Y127.28/32 Hourly recovery high May 28, intraday high
*PRICE: Y127.03 @1610GMT
*SUP 1: Y126.24 Hourly support
*SUP 2: Y125.60 Initial intraday high, now support
*SUP 3: Y125.25 Hourly congestion May 29
*SUP 4: Y124.98 4 month bear channel base
*COMMENTARY* The decline extended Tuesday, a low of Y124.62, just beneath the
2018 bear channel base at Y124.98. This also saw the lower 2% volatility band
give way, at Y126.11 today, this the first time this band has been exceeded, on
either side, since Nov 2016. Always cautious as usually never long lasting.
Subsequent recovery has been relatively swift, reaching 127.32 so far, Y127.61
next higher. Below Y126.24 would open up some correction potential.

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