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Recovery Falters Below Key...........>

EURO-YEN TECHS
EURO-YEN TECHS: Recovery Falters Below Key Y130.86-Y130.88 Resistance
*RES 4: Y131.86 61.8% Fibo of Y133.49-Y129.23
*RES 3: Y131.36 50% Fibo of Y133.49-Y129.23
*RES 2: Y130.86/88 38.2% of Y133.49-Y129.23, May 4 high
*RES 1: Y130.60/77 Hourly resistance, May 10 high
*PRICE: Y130.33 @0818GMT
*SUP 1: Y129.93/00 Hourly support, intraday low
*SUP 2: Y129.56 Initial rally high May 8, now support
*SUP 3: Y129.23/37 May 8 low, 1% volatility band
*SUP 4: Y128.85/95 2 year bull channel base, Mar 22 low 
*COMMENTARY* A low of Y129.23 on Tuesday, just below the swing target at Y129.44
and protecting against a return to the Mar 22 base at Y128.95 and the 2 year
bull channel base projection at Y128.85. Oversold in the near term as a
consequence, the subsequent rally breaking Y130.31 resistance and making a brave
attempt on the higher Y130.86-Y130.88 area. Above the the latter being key to
any lasting recovery. Meanwhile, support rises to Y130.00-Y129.56.

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