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

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

*RES 4: Y133.55/71 1% vol band, 76.4% of Y134.50-Y131.17

*RES 3: Y133.24 61.8% of Y134.50-Y131.17, Nov 24 high

*RES 2: Y132.90/00 Hourly lows/highs Nov 24-27

*RES 1: Y132.57 Nov 28 high

*PRICE: Y132.31 @0812GMT

*SUP 1: Y131.85/90 Hourly support

*SUP 2: Y131.65/72 Congestion area Nov 21-23, Nov 28 low

*SUP 3: Y131.17/23 Nov 17, Nov 23 lows

*SUP 4: Y131.03 50% Fibo of Y127.56-Y134.50

*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 Y132.57-Y133.00,

ahead of Friday's Y133.24 high and the upper band at Y133.55 by time today.

Meanwhile, support continues from within Y131.90-Y131.65, loss of the latter

would be a near term concern.