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Range Break Has Y131.52-Y132.18 As...>

EURO-YEN TECHS
EURO-YEN TECHS: Range Break Has Y131.52-Y132.18 As Next Upside Target Area
*RES 4: Y133.37 Equality rise from Y122.40 to Y114.85-Y125.82
*RES 3: Y132.88 2% volatility band
*RES 2: Y132.18 1.618 swing of Y130.77-Y128.49
*RES 1: Y131.52/58 1.618 swing of Y130.51-Y128.87,1% vol band 
*PRICE: Y131.01 @0839GMT
*SUP 1: Y130.80 Hourly support
*SUP 2: Y130.60/62 Prior late July highs, now support
*SUP 3: Y130.15/20 Hourly congestion Aug 1
*SUP 4: Y129.84 Aug 1 low
*COMMENTARY* After another scoot back down into the range on Tuesday, we finally
got the upside break above Y130.62. This sees Y131.52-58 as next resistance
ahead of a second swing target at the higher Y132.18 level. As a result, initial
support comes from Y130.80, ahead of those previous range highs at Y130.60-62.
Back below will disappoint but Y130.15-20 is currently the stronger support
area. Slightly bigger picture and Y133.37-Y133.63 looks the attraction.

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