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Range Trading Continues Above........>

EURO-YEN TECHS
EURO-YEN TECHS: Range Trading Continues Above Y135.19-Y134.98 Support
*RES 4: Y137.02 4 month bull channel top projection
*RES 3: Y136.79/83 1.618 swing Y136.10-Y134.98, 1% vol band
*RES 2: Y136.64 Jan 5 high
*RES 1: Y136.31 Jan 18 high
*PRICE: Y135.36 @0928GMT
*SUP 1: Y135.19 Jan 19 low
*SUP 2: Y134.98/02 Jan 16, Jan 15 lows
*SUP 3: Y134.58 Hourly low Jan 12
*SUP 4: Y134.35 Jan 11 high, now support
*COMMENTARY* Currently range trading above support from Y135.19-Y134.98. Need to
hold the latter, if a deeper corrective pullback is to be avoided. Within the
range, the Y136.00 area is the bar to a fresh attempt higher, which still sees
congested resistance from between Y136.31-Y137.02, as having the potential to
put a dampener on any recovery. Will need to escape the latter before real
belief in the topside will appear.

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