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Recovery Stalls Below 76.4% Fibo.....>

EURO-YEN TECHS
EURO-YEN TECHS: Recovery Stalls Below 76.4% Fibo Retrace Level
*RES 4: Y133.43 50% Fibo of Y137.51-Y129.35
*RES 3: Y133.06 Feb 21 high
*RES 2: Y132.44/51 Mar 13 high, 38.2% Fibo, 1% vol band
*RES 1: Y131.73/77 i'day high, 76.4% Fibo of Y132.44-Y129.61
*PRICE: Y130.98 @0918GMT
*SUP 1: Y130.65/70 Hourly support
*SUP 2: Y130.42 Hourly low Mar 19
*SUP 3: Y130.08 Hourly base Mar 16
*SUP 4: Y129.61 Mar 19 low
*COMMENTARY* The recovery from Y129.61 has stalled just below the 76.4% Fibo
retrace level at Y131.77. Some near term overbought conditions putting an end to
the rise at Y131.73. Attention now switches to Y130.75-Y130.42 support, loss
would concern but the Y130.08 level currently remains more pivotal to direction.
Loss would swing bias back to the downside. Above Y131.77 and scope to increase
gains toward Y132.44-Y132.51, where equally important upside decisions are made.

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