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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: Y133.06 Feb 21 high
*RES 3: Y132.44/51 Mar 13 high, 38.2% Fibo, 1% vol band
*RES 2: Y131.73/77 i'day high, 76.4% Fibo of Y132.44-Y129.61
*RES 1: Y131.20/40 Hourly resistance
*PRICE: Y130.43 @1650GMT
*SUP 1: Y130.42 Hourly low Mar 19
*SUP 2: Y130.08 Hourly base Mar 16
*SUP 3: Y129.61 Mar 19 low
*SUP 4: Y129.35 Mar 5 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 Y130.42 support, loss would
concern but the Y130.08 level currently remains more pivotal to direction. Below
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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