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EURO-YEN TECHS: Rally Faltering Below Y128.80-Y128.90 Resistance
*RES 4: Y129.78 76.4% Fibo of 131.38-124.62
*RES 3: Y129.23 May 8 low, now resistance
*RES 2: Y128.80/90 61.8% Fibo of 131.38-124.62, 1% vol band
*RES 1: Y128.70 Jun 4 high
*PRICE: Y127.96 @1557GMT
*SUP 1: Y127.80/90 Hourly support
*SUP 2: Y127.58 Hourly base Jun 1
*SUP 3: Y127.13/18 Jun 1 low, hourly low Jun 1
*SUP 4: Y126.81 Hourly base May 31
*COMMENTARY* Continued to regain ground, following last week's exhaustion spike
to the base of the 4 month bear channel. The next resistance to note is from the
61.8% Fibo retrace of the Y131.38-Y124.62 fall, at Y128.80 and the 1% volatility
band at Y128.90. This ahead of the May 8 low at Y129.23. As a consequence,
support also rises, Y127.90-Y127.80 initially, Y127.58 thereafter, with the
Y127.18-Y127.13 area remaining of more importance below.