Recent Range Guided By 1%............>

EURO-YEN TECHS: Recent Range Guided By 1% Volatility Bands

*RES 4: Y134.50 Oct 25 high

*RES 3: Y133.89 Nov 14 high 

*RES 2: Y133.71/77 76.4% of Y134.50-Y131.17, 1% vol band

*RES 1: Y133.24 61.8% of Y134.50-Y131.17, Nov 24 high

*PRICE: Y132.72 @1025GMT

*SUP 1: Y132.45/47 Hourly support, Nov 20 high

*SUP 2: Y132.20 Initial rally high Nov 24, now support

*SUP 3: Y131.65 Congestion area Nov 21-23

*SUP 4: Y131.17/23 Nov 17, Nov 23 lows

*COMMENTARY* Has been trading within a range over the last month that has been

set by the parameters of the 1% volatility bands. The latest rise from above the

50% Fibo retrace level at Y131.03, now has resistance from Y133.24 in the way of

a return to the upper band at Y133.77 by time today and the Nov 14 high at

Y133.89. As a result, support also on the rise, Y132.47-Y132.20 initially, with

Y131.65 currently of more consequence below.