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Recovery Moves Back Toward The.......>

EURO-YEN TECHS
EURO-YEN TECHS: Recovery Moves Back Toward The Year's high
*RES 4: Y137.65 1.618 swing of Y136.31-Y134.13
*RES 3: Y137.20 5 month rising resistance line
*RES 2: Y136.90 1% volatility band
*RES 1: Y136.64 Jan 5 high
*PRICE: Y136.44 @1000GMT
*SUP 1: Y135.90 Hourly support
*SUP 2: Y135.65/70 Intraday hourly basing area
*SUP 3: Y135.35/39 Hourly low/high Jan 31
*SUP 4: Y134.75 Hourly base Jan 30
*COMMENTARY* The recovery begun at the beginning of the week, from a test to the
lower 1% volatility band at Y134.14, has now broken back above Y136.29-Y136.31
resistance. This sees the Jan 5 high at Y136.64 as the potential bar to a higher
Y136.90-Y137.20 rise. Through here and the equality rise target at Y137.40 and
the swing target at Y137.65 are next on the agenda. Meanwhile, support from
Y135.90 and then Y135.65 offers near term downside protection.

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