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Rally Reaches Into Decent............>

EURO-YEN TECHS
EURO-YEN TECHS: Rally Reaches Into Decent Y132.85-Y132.96 Resistance
*RES 4: Y133.80 Feb 12 high
*RES 3: Y133.23 50% Fibo of Y137.51-Y128.95
*RES 2: Y132.96 1.618 swing of Y132.18-Y129.98
*RES 1: Y132.85/90 Equality rise from Y129.98, 1% vol band
*PRICE: Y132.70 @0923GMT
*SUP 1: Y132.10/20 Hourly support
*SUP 2: Y131.81 Apr 12 low
*SUP 3: Y131.45/50 Apr 5, Apr 6 highs, now support
*SUP 4: Y131.09 Apr 6 low
*COMMENTARY* The break above the Mar 27 high at Y131.82, added more credence to
the potential for an inverse head and shoulders pattern to have developed over
the last 6 weeks. Next up, now has to deal with an equality rise target and a
swing target, between Y132.85-132.96, which including the upper 1% volatility
band, may prove problematic, at least in the near term. Support rises to
Y132.20-Y132.20 but Y131.81 currently provides the stronger level. 

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