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Rally Now Faces Y130.10-Y130.65......>

EURO-YEN TECHS
EURO-YEN TECHS: Rally Now Faces Y130.10-Y130.65 Resistance
*RES 4: Y131.41 Aug 2 high
*RES 3: Y131.18 1% volatility band
*RES 2: Y130.60/65 Congestion area Aug 3-Aug 8
*RES 1: Y130.10 Aug 4 low, now resistance
*PRICE: Y129.59 @1555GMT
*SUP 1: Y129.42 Intraday low
*SUP 2: Y129.15/20 Hourly support
*SUP 3: Y128.92 Aug 14 low
*SUP 4: Y128.54 Initial recovery high Aug 11, now support
*COMMENTARY* The hold of the key Y128.00-Y127.97 area last week has continued to
spawn a recovery. Today threatening to move clearly back above the broken 4
month support line at Y129.95. Through here and next resistance comes from the
Aug 4 low at Y130.10 and more importantly the congested Y130.60-65 region. As a
consequence, support now from the day's Y129.42 low but 129.15-20 currently
looks more important to upside well being.

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